EbixCash, which is an India-based subsidiary of Ebix Inc., has recently acquired a 67% stake in Delhi-based startup Routier for an undisclosed amount of money. Routier, which is a B2B marketplace for trucking logistics, was founded by Mr. Ankur Dahiya and Mr. Adwait Vikram Singh.
Routier, which operates using a cloud-based technology, aims to impact trucking logistics similar to how companies like Ola and Uber have revolutionised taxi logistics in the country. By way of using a combination of artificial intelligence, data analytics, and end-to-end streamlined functionality that is available via the cloud, the B2B startup aims to drive efficiency for various marketplace stakeholders.
EbixCash said that Routier, which already has clients like Samsung, Coca Cola, and Asian Paints, is already adding efficiency to freight movement. The investment by EbixCash was driven by the Delhi-based startup looking for a strategic investor who could offer the company additional brand recognition, technology expertise, and financial strength to increase its penetration of large trucking logistics.
Routier’s digital cloud-based marketplace connects firms that need goods to be delivered with small trucking firms that account for about 75% of the freight movement/transportation business. Routier allows trucking firms to win a company’s business by bidding. The bidding can be done through a computer, smartphone, or hand-held device. Routier’s online platform, thus, offers an efficient end-to-end online logistics marketplace that helps connect companies with trucking firms across the country through a single online platform.
Routier has so far been the first startup in which Ebix Inc. has made a strategic investment.
Sources: The Times of India, The Economic Times