30 August 2018, India:
Third-party logistics (3PL) solution provider, Mahindra Logistics (MLL), today announced the acquisition freight management solution startup ShipX. According to reports, the deal size was at ₹7 crore.
“MLL has been our most valuable customer for more than 3 years. This investment will help us in developing more product features and strengthening the organization,” said Amarnath Kalale, Co-Founder of Transtech.
“Logistics in future will be more technology driven – both in terms of our own operations, as well as interfaces with our customers and business partners. With our asset light business model, we are already like a ‘platform’. The strengthening of our relationship with Shipx opens up a new opportunity to take this to the next level,” said Pirojshaw Sarkari, CEO – Mahindra Logistics.
This acquisition will help Mahindra Logistics to increase end-to-end digitization and bring in operational efficiencies, the company said in a statement. The acquisition is expected to be completed by August 31, 2020.
ShipX claims that its solutions provide better visibility and control of operations across the entire network of transportation businesses including their branches, franchise locations and customer branches.
ShipX was founded by Amar Kalale, Maxin Samuel, Bharat Ramanath and Venkatraman Mahadevan. It is a Software as a Service (SaaS) based Transport Management Solution (TMS) platform. It is owned and operated by TransTech Logistics Private Limited.
(Image – Wikimedia)