Courier delivery company DTDC Express has picked up 20% stake in Gurgaon-based Llama Logisol Pvt Ltd, which owns and operates on-demand logistics service provider Shipsy. The deal size is marked at over $1 Mn.
Shipsy is an on-demand logistics service provider founded in June 2015 by four IIT graduates Soham Chokshi, Dhruv Agrawal, Maharshi Devraj, and Himanshu Gupta.
It started as a C2C logistics company but soon pivoted to solve the problem with smart decision making in the supply chain industry. Shipsy is now driven by a team of computer scientists and electrical engineers that help in the operational efficiency of the last mile logistics.
The startup uses the vast amount of available ambient data for location intelligence, last mile delivery optimisation, and supply chain planning. It works with some of the leading logistics companies by dividing the work into three broad categories including Architecture design for business intelligence, Intelligent systems for critical business processes, Analytics platform for actionable insights.
Soham Choksi, co-founder of Shipsy said, “With the traction growing at a very fast rate in the platform business, Shipsy would be having away the C2C operations in the medium term to focus on building its position in the enterprise space. The partnership with DTDC is a mutually beneficial one and would help Shipsy establish itself as a leader in the space of creating platforms for data-driven decision making.”
Shipsy raised funding from a group of angel investors led by Dheeraj Jain, in September 2015. Dheeraj was instrumental in helping Shipsy pivot from C2C deliveries to a company focussed on creating platforms for data-driven decision making for enterprises in the logistics sector. Dheeraj also led the deal negotiations with DTDC for Shipsy.
Shipsy will use the investment from DTDC to strengthen its core technology infrastructure and build on the solutions that it offers.
Abhishek Chakraborty, Executive Director-DTDC Express Ltd, said, “DTDC’s investment in Shipsy would go a long way in helping itself adopt disruptive technologies in its future growth segments of ecommerce and efulfilment.”
Shipsy plans to achieve break even within the next financial year. The association with DTDC would also ensure stability in its revenues. The startup plans to establish itself as a leader in the field of data-driven decision making and creating scalable platforms around the same.
Although Shipsy has most of the clients from the supply chain industry, it has created a generic platform that can use company’s database through machine intelligence and create data-driven decision making. They have also been in talks with the companies in the financial industry for data-driven detection on financial fraud for the same.
Shipsy competes with various other logistics services startup including Parcelled, Pickparcel, Sendd, DaakNinja, Ecom Express, Quifers, and Pigen.
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