Delhi-based logistics and delivery start-up Turant Delivery has acquired another start-up in the logistics space called Zippon, for an undisclosed amount.
With this acquisition (an all stock deal), Venkatesh CL, co-founder and CEO of Bangalore-based Zippon, will join Turant Delivery’s team.
Turant Delivery is a B2B and B2C logistics delivery company, while Zippon is a low-cost and hassle-free relocation logistics service provider in the packers and movers segment.
It aims to make consumption of logistic services easier for consumers and at the same time, help truck owners utilise inventory in an efficient manner.
With a unique zone-based pricing algorithm, the start-up caters to the preference of SME customers towards flat rates, as opposed to variable rates, and at the same time provides them a rate lower than the market rate by a margin of at least 15 per cent.
The agreement combines the strengths of Turant Delivery’s business model as well as resources, and Zippon’s network and logistics expertise.
Turant Delivery, co-founded by ISB alumni Satish Gupta, Ankur Majumder and Siddharth Arora, with a vision to simplify logistics, operates in Delhi and Mumbai.
However, with the acquisition, it will soon start its services in Bangalore.
Arora said, “Both firms place strong faith in the fact that technology plays a strategic role in optimising operations. Zippon is very particular about the quality of service, and believes in forging long-term relations with customers. We have a similar philosophy at Turant. We ensure all our vehicles are GPS-tracked, drivers verified, and that all documentation is in place before providing vehicles to customers.”
Venkatesh of Zippon said the acquisition would help Turant Delivery increase its presence in both business and consumer space at a time it is organising a massive unorganised market of logistics.
It will also give Turant Delivery a stronger foothold in the logistics market and provide its customers with added functionality, thereby expanding its B2C presence.
As India’s e-commerce market is growing at a rapid pace, the underdeveloped and unorganised logistics network is also expanding. Several start-ups such as Letstransport, Porter, Roadrunnr, Shippr and Zaicus, have come up in the last one year.