LogiNext, a logistics analytic platform which helps companies improve their internal operations and optimize delivery networks, has acquired YourGuy, a cross category last mile delivery service in a cash and equity deal.
This acquisition news comes just a couple of days after the company announced launch of its hyperlocal delivery service. Last week, LogiNext announced the launch of Sprintr – an on-demand hyperlocal delivery platform. It is currently operational in Gurgaon, Mumbai, Jaipur and Ahmedabad.
The financial details related to the deal remain undisclosed. After the acquisition, all 200 of YourGuy’s delivery personnel will be hired by LogiNext for Sprintr. Also, the company’s team of 20 member will join Sprintr.
Commenting on it, Dhruvil Sanghvi, CEO of 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. Apart from Mumbai we are also looking at acquiring a last mile delivery player in Delhi-NCR to strengthen the Sprintr vertical.
YourGuy is a Mumbai-based startup which delivers products like meal boxes, medicines, important documents, clothes and a bunch of other itesm within a few hours from pickup. It claims to have 99.4% on-time delivery record.
The company is doing about 4,000 orders per day on an average and counts the likes of Godrej Nature’s Basket, Subruban Diagnostics, Wellness Forever and others as its clients.
LogiNext was founded in 2014 by Dhruvil Sanghvi and Manisha Raisinghani. It aggregates location data from multiple clients with similar delivery networks, anonymizes it and then generate insights that helps companies predict delays, save cost and provide reliable customer service.
Till now, the startup has raised $10.6 million in two funding rounds. It had raised $10 million in Series A round from PayTM. Prior to that, it has received $600,000 in seed funding round from Indian Angel Network.
The market size of technology in logistics in India is around $2 billion and is much larger in other markets like South East Asia and the Middle East. Eyeing that lucrative market segment, the company is hence, also eyeing global expansion of its business in the near future.