Mumbai-based logistics analytics startup LogiNext has tied up with global technology giant IBM to optimise supply chain functions for e-commerce, retail, and allied sectors.
The Paytm-backed logistics data analytics company will now become pre-integrated with IBM cloud, IBM Order Management, IBM MDM MaaS 360 and IBM Weather Company. LogiNext is also in talks with IBM to use more machine learning APIs of Watson.
”This (partnership) will allow FMCG, e-commerce, retail, and transportation companies to optimize their logistics and supply chain from resource, time, distance and cost point of view. At the same time, it allows companies to improve their customer experience with real-time visibility across the supply chain”, said LogiNext CEO Dhruvil Singhvi, reported DEALSTREETASIA.
Founded in 2014 by Dhruvil Sanghvi and Manisha Raisinghani, LogiNext helps logistics companies to improve their internal operations, optimize delivery networks and provide customer service using data collection, advanced analytics, and visualization.
The startup, which claims to have 200 enterprise clients spread across 10 countries, works with clients such as Coca-Cola, Grab, Shuttle. LF Logistics, MGM Bosco, Dominoes, Myntra, Unilever, Coca-Cola, Suzuki and DHL, Decathlon, paytm on an offline basis.
Earlier this year, the logistics management software provider LogiNext opened its software-as-a-service or SaaS platform for clients across 100 overseas markets. prior to that, it acquired last-mile delivery startup YourGuy Concierge Pvt Ltd in a cash-and-equity deal in April 2016.
In September 2015, the company raised a sum of $10 million from early backer Paytm. It also raised an undisclosed amount of funding from Indian Angel Network, and a group of investors in April 2015. To date, it has raised around $10.5 million and is currently in talks to raise its next round as well.
Through this partnership LogiNext eyes to achieve net profitability by March 2018 and also aims to boost logistics and field workforce costs savings by up to 25% across industries. This assumes significance given that logistics costs for most countries range from 15% to 30% of their GDP.
Recently, Paytm’s e-commerce arm Paytm Mall announced to offer smartphone buyers a year-long coverage against accidental damage including screen damage, liquid damage, and theft through its ‘Mobile Protection Plan’. The service will be available for handsets of mobile phone brands including Apple, Xiaomi, Motorola, Vivo, Oppo, and others.