During the early years of this decade, there was a surge in e-commerce, hyperlocal commerce, and on-demand services where a lot of startups and even large companies jumped in. But, companies failed to perform well and incurred huge losses because of high logistics cost, uncertainties, and frequent delays.
Dhruvil Sanghi and Manisha Raisinghani decided to build a product that most companies in this segment could utilise to cut down their cost while providing the best customer experience.
Launched in February 2014, LogiNext provides solutions to third-party service providers, courier services, express and parcel, e-commerce logistics and hyperlocal businesses to track their shipments in real time and minimise losses occurring due to high logistics cost and operational uncertainties.
It aggregates the location data from multiple clients with similar delivery networks, anonymises it, and then use the power of real “Big Data” to generate insights. This information helps companies predict delays, save costs, and provide reliable customer service.
Their products – LogiNext Mile, LogiNext haul, LogiNext Force, LogiNext On-Demand and LogiNext – all aim to locate resources, plan routes, and analytics, all in real time.
In two years’ time, it claims to have 75 large companies and 150 SMEs in its client list, which already includes Mahindra Logistics, Paytm, Reliance, Adani, Maruti Suzuki, and Myntra among others.
It also claims 300 percent year-on-year sales growth. And it has now been observing 10 percent month-on-month growth on the customers’ side.
“The average ticket size per customer is Rs 50 lakh per year. On current profitability, we are making 30 percent EBITDA margin, which is the company’s operating profitability as a percentage of its total revenue,” says Dhruvil, Co-founder and CEO, LogiNext. A graduate of Carnegie Mellon University, he has more than five years of experience in the technology space with a strong interest and expertise in Big Data.
These are few people who actually are determined to show world their present and are making their mark already. Remember? Life is a RACE!