Craftsvilla, a Mumbai-based ethnic e-tailer, bagged ‘Sendd’ a virtual logistics start-up at around $5 million. This move is the first ever acquisition of the ethnic e-tailer in this year.
The founder of Craftsvilla, Manoj Gupta said that, the company made this acquisition to gain complete control over the logistics. Sendd showed the ethnic retailer how they can reduce RTO over 25% or even 50% in some cases and prices of logistics up to 30%. The deal was closed within 3 to 4 meetings within a month.
Sendd, the virtual logistics company was founded by Sumeet Wadhwa, Sargun Singh Gulati and Nav Agarwal, the former IITB students, a year back. Gupta is quite confident about the logistics engine which is said to predict on the efficiency levels of which shipment should be given to which courier company.
The start-up has tie-ups with more than 25 logistic companies. Depending on the RTO (Return to order) and delivery time, the shipments are routed to the right courier companies.
Gupta further emphasises on the fact that the Sendd will continue to operate with their clientele and also have a standalone identity in addition to managing Craftvilla’s logistics. The retailer aims to make it one of the India’s largest virtual logistics company, better than ETDC or FedEx.
Reference: https://goo.gl/dTsL58
