EbixCash, the Indian subsidiary of Ebix Inc has acquired a major stake in Routier, a Delhi-based B2B truck logistics company. US-based Ebix Inc is into on-demand software and ecommerce services and is one of the leading international suppliers for insurance, financial, e-governance and healthcare industries.
The deal gives them 67% control of Routier. The deal amount is yet undisclosed.
In a statement, the company said that this is the first startup where Ebix has made a strategic investment.
Routier was started in late 2014 by Ankur Dahiya and Adwait Vikram Singh. It is a cloud-based truck logistics company that connects shippers and carriers on a single platform. It uses data analytics, artificial intelligence (AI) and end-to-end systems to efficiently connect users in the supply chain industry.
The company spokesperson said that Routier currently operates in inland logistics and seeks to streamline its services to cross border freight movement on its single enterprise marketplace platform. Further, it aims to become an end-to-end supply logistics chain network, from freight movement to last mile delivery across country borders.
It is already providing its logistics service to companies such as Coca Cola, Asian Paints, Samsung, etc.
“India’s trucking industry has an opportunity to deliver tremendous value and efficiency, and thus we are excited to be partnering with Routier,” Ebix CEO Robin Raina has said.
According to Raina, Routier has recently secured multi-million-dollar commitments from a few large multinational corporations.
“(It) thus needed the backing of Ebix in terms of technology expertise, manpower and working capital to implement and scale these and other opportunities,” he added.