India: major logistics player on the rise
In India, CEP giant Delhivery has acquired Bengaluru-based Spoton Logistics. It is said that the company is enlarging its footprint in order launch an initial public offering (IPO) in due course. Although financial terms were not disclosed, business estimates mention an investment of USD 300 million.
Sahil Baru, CEO of Delhivery, commented: “Over the last ten years, Delhivery has established a major position in B2C logistics, and by combining our truckload business with Spoton's, we will be on the path to the same position in B2B express as well.”
Founded in 2011 by Baru and four other founders, Delhivery initially operated as SSN Logistics to provide local on-demand service.
The consolidation of the country’s more than 1,000 logistics companies is in progress, which may eventually result in the creation of ten big national players in the market. (sh)