EbixCash, which is the financial exchange division of Ebix has acquired a 67% stake in the Delhi-based B2B logistics startup, Routier. The amount of the deal has not been disclosed, as of now.
With the help of this deal, Ebix will help Routier by providing the latest technical expertise, brand recognition, as well as financial strength to accelerate its penetration of the major trucking logistics.
Founded by IIM Alumnus Ankur Dahiya and Harvard Law School Alumnus Adwait Vikram Singh, Routier provides a technology-driven platform that offers end-to-end logistics solutions. It is basically founded with the aim of revolutionizing the trucking logistics sector.
Talking about the investment, the Ebix Chairman, President, and CEO, Robin Raina, said, “Exchanges and marketplaces are meant to provide a network effect that drives efficiency for all concerned and is best targeted at industries that are highly inefficient and lack technology-savvy,”
He further added, “India’s trucking industry is a perfect example of such an opportunity to deliver tremendous value and efficiency, and thus we are quite excited to be partnering with Routier in its mission to redefine the trucking logistics industry.”
Asian Paints, Samsung, and Coca-Cola are some of the important clients of Routier. This proves that Routier has been able to make the logistics supply chain more efficient.
Apart from Routier, some other noteworthy players in the logistics domain include Rivigo, Porter, TruckEasy, and BlackBuck.
Source: Techstory
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