Mahindra Logistics (MLL), one of India’s biggest Third-party logistics (3PL) solutions providers, today declared the procurement of a key stake in Transtech Logistics, otherwise called ShipX. The procurement is relied upon to be finished by August 31, 2020. As per different media sources and reports, the acquisition total deal was finalized at Rs.7 Crores.
This procurement comes quite close to a long time after Tata Motors Ltd grabbed 26% stake in TruckEasy, an another Bangalore-based startup in logistics space. With that, Tata Motors, the lead of the $100-billion Tata Group, denoted its first historically speaking stake-buy in a local startup.
About ShipX, it is a SAAS (Software as a Service) based Transport Management Solution (TMS) stage that serves the production network computerization requirements for 3PLs, shippers and transporters.
Shipx is established by a develop and experienced group including – Amar Kalale, Maxin Samuel, Bharat Ramanath and
Venkatraman Mahadevan. These were a piece of a Boston-based store network satisfaction organization that had been hatched by Infosys.
ShipX has been working with Mahindra logsitics limited for more than 3 years and has been empowering transportation arrangements. This securing will assist MLL with increasing end-to-end digitization and acquire operational efficiencies.
Mr. Pirojshaw Sarkari, CEO – Mahindra Logistics, said, “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.�
Mr. Amarnath Kalale, Co-Founder of Transtech, said “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”. Prior to Shipx, Kalake was also the co-founder Yantra solutions, a Boston based supply chain solution provider. Amar has more than 20 years of experience in providing technology solutions for logistics and supply chain problems. Amar has Bachelor’s degree in Engineering and Masters in Computer Science.
It might be reviewed that, Mahindra, which is an umbrella firm of Mahindra Logistics, had gotten a 16% stake in Bengaluru-based self-drive auto rental startup Zoomcar for $27.6 million as a feature of a Series C round of subsidizing worth $40 million (Rs 256 crore), in February this year.
Around the same time, Mahindra had additionally made a venture of about $1 million in Mumbai-based associated auto IoT-gadget making startup Carsense (earlier Carnot) for 22.9% stake in Carnot Technologies Pvt Ltd, the parent organization of brand name Carsense.