25 April, 2016, Bangalore: In a mixed deal of cash and equity, LogiNext has acquired YourGuy, a cross-category last mile delivery company in Mumbai . As a part of the deal, 200 delivery personnel and a team of 20 employees will now be a part of Sprintr, the last mile delivery arm of LogiNext.
Speaking about the acquisition, Dhruvil Sanghvi, CEO, LogiNext, said, “We will be using the Sprintr platform to on-board regional last-mile delivery players who use our tech and pay us a share in the commission. LogiNext will also direct business to these regional players to incentivize the association.”
As per the claims made by YourGuy, the company delivers around 4,000 orders daily from clients including Godrej Nature’s Basket, Subruban Diagnostics, Wellness Forever and others. The recent acquisition will help LogiNext to ramp up its delivery orders to almost double.
“Apart from Mumbai we are also looking at acquiring a last mile delivery player in Delhi-NCR to strengthen the Sprintr vertical,” added Dhruvil Sanghvi.
The last mile vertical of LogiNext works with ecommerce players Paytm and Myntra as well as other food delivery companies and pharmacies which constitute 30 per cent of the lastmile business. Sprintr has a presence in four cities as of now, reports ET.
Image-hiretale.com
Also Read-
DropKaffe Acquires Funding Of Rs 3.33 Crore In Its Bridge Round
Commut, Hyderabad Based Startup Raises $50K Funding From 50K Ventures
