Nitin Konde
21 March, 2016, Mumbai: India’ leading online mobile payment app, Paytm has invested in supply chain automation firm LogiNext Solutions. With this move, company plans to increase its revenue to threefold (about 20 cr) and its shipments to two lakh per day by next fiscal.
Commenting on the news, Dhruvil Sanghvi, Co-Founder & Chief Executive, LogiNext said, “In the next financial year, we are looking at increasingour revenue to USD 3 million and aim to touch 2 lakh shipments a day from 50,000 currently.”
The company came into existence in 2014 and since then, it has focused on helping automate supply chain nodes enabling them to track their shipments from pick-ups to line haul, last mile and reverse logistics. Founded by Dhruvil Sanghvi and Manisha Raisinghani, within a short span of time, LogiNext has managed to catch the eyes of some of the renowned players of the industry such as Mahindra, Myntra,Paytm, Reliance Fresh and DMart. The official data of the company suggests that currently it has around 50 large clients and approximately 100 small business companies.
It has two revenue models and aims to break-even by the middle of next year, Sanghvi said. Firstly, it sells software and charges clients licencing fee per delivery person every month for the business they conduct. The other model is where the company undertakes deliveries on behalf of the client and charges a fee for it, reports PTI.
Also Read-
Paytm Is On Move To Create An Offline Platform For Its Business
China’s Alibaba Group Looking To Increase Stake In Paytm
Shinjini Kumar Becomes New CEO OF Paytm’s Payments Bank