EbixCash, a subsidiary of Nasdaq-listed Ebix Inc, has acquired a 67% stake in Routier, a Delhi-based B2B marketplace for trucking logistics.
Founded by Ankur Dahiya and Adwait Vikram Singh, Routier is a cloud-based technology to change the way people move and receive inland goods in India.It is seeking to revolutionize trucking logistics in the same way taxi logistics have been transformed by Uber, Ola and others.
Robin Raina, Chairman, President and CEO, Ebix, said, "Exchanges and marketplaces are meant to provide a network effect that drives efficiency for all concerned and is best targeted at industries that are highly inefficient and lack technology savvy. India's trucking industry is a perfect example of such an opportunity to deliver tremendous value and efficiency, and thus we are quite excited to be partnering with Routier in its mission to redefine the trucking logistics industry."
Ankur Dahiya, Founder of Routier, said, "Technology can serve as a key disruptive force in the logistics sector. Routier aims to use Data Science as a key enabler to organize the fragmented market. By match-making supply and demand, even if we can use 30% of unutilized capacity, we can cause a major positive impact in the Industry in terms of productivity and profitability both."
Adwait Vikram Singh, Co-Founder, Routier, said, "Routier has the potential to rationalize the logistics sector not only in India but also for the global markets. Currently, Routier operates only in inland logistics but eventually aims to become a key player in streamlining cross-border freight movement on a single enterprise marketplace platform. Routier has the vision to become an end-to-end supply chain network, that can handle freight movement to last mile delivery, for transportation across country borders."