These startups are upending traditional logistics service model
The logistics sector is filled with a wide spectrum of players, ranging from small-to-midsize exporters and importers, mid-to-large traders, to multi-national corporations.
The sector is constantly witnessing process standardisation, consolidation, digital transformation, and technology upgradation. Users are looking for cost-effective and efficient customised solutions. With increase in demand and disruption, the logistics sector is attracting investor interest.
The Indian logistics market was valued at $250 billion in 2021 and is expected to grow to $380 billion by 2025, at a CAGR (compound annual growth rate) of 10 to 12 percent, according to market and consumer research firm Statista.
New-age technologies have revolutionised the sector. Startups these days are moving forward and leveraging technologies such as AI (artificial intelligence), ML (machine learning), data analysis, automation, and others to cater to the growing demand of users and to provide smarter, cost-effective, and enhanced solutions.
Here are some startups which are providing smart and enhanced quality logistic services.
Founded in 2014 by Mithun Srivatsa and Nikhil Shivaprasad, Bengaluru-basedis a same-day intra-city logistics provider that connects customers with mini-truck drivers for intra-city, sub-two-ton deliveries via its mobile app and website.
It provides warehousing, transportation, and a fully integrated technology solution to manage the end-to-end supply chain journey. It also provides fulfillment services and full API integrated delivery services.
The startup offers loading and unloading services and also allows users to get real-time tracking of goods.
In August 2021, the startup raised an undisclosed amount in a Series B3 funding round from Symphony International Holdings Limited, Chiratae Ventures, Michael and Susan Dell Foundations, and Draper Associates to expand its geographical reach across India and serve a wider customer base.
Founded by Manish Ahuja, Naveen Rawat, and Rahul S. Dogar in 2009, New Delhi-basedoffers a tech-enabled end-to-end supply chain logistics platform for clients from lifestyle, ecommerce, and fashion, among others.
Holisol's multi channel fulfilment centre [Image Credit: Holisol]
Its solutions include multi-channel fulfillment for B2B (business-to-business) and B2C (business-to-consumer) retail, logistics, and integrated packaging. Alongside, it offers returnable packaging solutions for agriculture, auto components, and the heavy engineering industry.
The startup works with brands such as Mango, Kama Ayurveda, Urbanclap, Puma, Oriflame, Avon, Ashok Leyland, and Mahindra, among others.
In June 2021, the startup raised $3 million in debt from Northern Arc to accelerate its growth further.
Founded in 2015 by Pushkar Singh, Sudarshan Ravi, and Ankit Parasher, Bengaluru-basedprovides urban logistics solutions to enterprises by offering tech-enabled, infra-regional transportation services.
Founders of LetsTransport - Sudarshan, Pushkar, and Ankit
The startup enables enterprise clients to book trucks and manage bookings through their mobile app, website, and call.
The startup deals in the light commercial vehicle segment, with distances range up to 300 km. It also provides logistics solutions across various industry verticals, such as organised FMCG, retail, e-commerce distribution, and 3PL companies, and claims that its competitive advantage lies in its ability to cross utilise for higher capacity, an efficient cost structure, and increased asset sweating.
In June 2021, the startup raised Rs 10 crore from Stride Ventures.
Founded by Vineet Sharma, Abhay Jeet Gupta, Praveen Kataria, Vishal Misra, and Udbhav Rai in 2017, Gurugram-basedis a freight automation platform which helps logistics stakeholders digitise end-to-end operations and provides real-time, actionable insights using IoT (Internet of Things) and analytics.
The startup collects data from physical assets on the road and different touch points but also helps them with actionable insights across operations.
It serves customers in cement, steel, FMCG, transportation, e-commerce, and mining, etc.
The startup is on a mission to digitise logistics and fleet operations to improve efficiency, reduce costs, and enhance safety.
In February 2022, the startup raised $19.4 million in a Series B round led by IndiaMart, India Quotient, and BEENEXT to double down on product and expansion plans.
Founded by Dr Ashvini Jakhar in 2016, Noida-based startupprovides end-to-end supply chain solutions and ‘Prime Like’ (same day or next day delivery) fulfillment to D2C brands, SMEs, and enterprises on a pay-per-use model.
Warehouse Management System (ProWMS), Intelligent Inventory Placement Product (ProPlanning), Freight Recommendation and Transport Management System (ProShip), Unified Order Management System (ProOMS), and Insights and Analytics Products (ProInsights) comprise the startup's technology stack.
The startup has served clients like WinMagic Toys, Lavie, Reliance JioMart, McGraw Hill, and other D2C brands across more than 10 categories.
In March 2022, Prozo raised $10 million in a Series A round led by Sixth Sense Ventures to expand its warehousing and fulfillment footprint, technology and analytics capability, and client base.