India is witnessing rapid growth in automation, leading to an increased demand for the efficient movement of goods. With the Industry 4.0 objective in place, more and more players are entering the market to transfer freight across all industries. In response to this expansion and demand, numerous startups and entrepreneurs are innovating in the freight sector. They are using AI, machine learning, and other post-digitization techniques to generate disruptive ideas and transform the logistics landscape.
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Overview of the 5 Logistics Startups
Here are five innovative startups that are changing the logistics landscape in India:
- iThink Logistics: This end-to-end AI-enabled multiple courier aggregator shipping platform services over 26,000 pin codes in India. Their online portal can be linked with marketplaces or online stores through APIs, allowing for easy order import. Clients can book parcel shipping services, print labels, and receive real-time shipment tracking updates. With features such as the patented 6-step NDR, an insightful dashboard, and a dedicated key account manager, iThink Logistics has become a go-to solution for e-commerce and logistics companies.
- CapGrid: This end-to-end source-to-deliver company focuses on low complexity direct material spend for automotive and industrial manufacturers. CapGrid leverages an AI-enabled sourcing platform with over 30,000 manufacturers and deep capability intelligence to run sourcing 10x faster. They have significantly reduced sourcing and procurement complexity, inventory, and material cost for leading manufacturers. The company started in December 2019 and became operational in January 2021.
- On Move: This technology-enabled high-speed, long-distance truck provider aims to provide high-quality service to time-sensitive vehicles in industries such as e-commerce, courier, pharmacy, and retail. The company’s modern mindset founders aim to bring revolutionary innovations to India’s trucking business. Established in 2015 and operational since 2016, On Move has become popular across the country due to its creative and resourceful core team.
- Transport Corporation of India (TCI) Group: With revenues of over Rs. 5000 crores, TCI Group is India’s leading integrated multimodal logistics and supply chain solutions provider. TCI offers seamless multimodal transportation solutions in both Indian and international markets with its extensive network of 1500+ company-owned offices, 13 million sq. ft. of warehousing space, and a strong team of 5500+ trained employees.
- Locus: This leading-edge technology company solves one of the most challenging global supply chain problems: last-mile logistics. Locus’ order-to-delivery dispatch management platform helps enterprises transform their last-mile logistics operations into growth centers. With advanced optimization algorithms and intuitive workflow automation, Locus equips businesses with the tools needed to maximize efficiency while delighting customers. Since its founding in 2015 and backed by GIC Singapore, Qualcomm Ventures, Tiger Global, and Falcon Edge, Locus has helped a wide range of customers globally across industries execute 650 million deliveries across 30+ countries.
In conclusion, these startups are at the forefront of the logistics industry in India. By leveraging cutting-edge technology and innovative ideas, they are transforming the logistics landscape and making it more efficient and cost-effective. Keeping up with these advancements can help businesses enhance their competitive advantage in the industry.