MLL currently serves more than 400 corporate customers in various industries including automotive, engineering, consumer goods and e-commerce.
Mahindra Logistics Limited (MLL), helmed by Anand Mahindra, has purchased a 60% share in Telangana-based logistics startup Whizzard for INR 72 Cr ($9.5 Mn approx). According to a Mint media source, the acquisition was a combination of main and secondary cash infusions from MLL.
The transaction will assist MLL, a publicly traded business, in further strengthening its foothold in the logistics sector. Ankit Madhani and Arun Rao established Whizzard, which is operated by ZipZap Logistics. The business distributes 60 million shipments each year and operates an intra-city distribution network for digital commerce and last-mile delivery.
“Last mile delivery and fulfilment continues to see strong tailwinds with increased digital adoption, expanding delivery networks and onset of quick commerce. This association will enhance and strengthen our existing presence for our customers in ecommerce and other segments. The Whizzard team has built deep capabilities and delivered strong growth till date,” said Rampraveen Swaminathan, MD and CEO,Mahindra Logistics.
Whizzard claims to have expanded 10X in the previous three years and serviced over 3000 pin codes, providing businesses with full-stack digital capabilities and micro-distribution centres.
According to a research, the Indian road logistics business is quickly expanding. It is also expected to increase at an annual compound rate of 8% over the next five years, reaching $330 billion by 2025.
MLL now serves over 400 corporate clients in industries such as automotive, engineering, consumer products, and ecommerce. It follows an asset-light approach, allowing it to provide clients with customised and technologically advanced solutions.
“Mahindra Logistics is one of the most respected logistics companies in India. We believe that being downstream to this and respected brand with a large customer base is a significant strategic advantage for a last-mile delivery company like us. We are thrilled to join hands with Mahindra Logistics and look forward to rapidly scaling our business in the coming years,” said Ankit Mandhania and Arun Rao, cofounders of Whizzard.
Several advancements have happened recently as the country’s logistics sector grows.
Rocketbox, a B2B logistics platform, was bought by Shiprocket, an ecommerce shipping company, earlier this year. Shiprocket would minimise shipping costs and improve customer experience on its platform as a result of this agreement.
Another distribution and logistics business, Ripplr, raised $12 million in a pre-Series B investment round that included a combination of loan and equity funding. The firm decides to use the newly injected funds in product development, acquiring new talent, and expanding into other areas.
3EV Industries, a transportation and logistics focused EV firm, got $2 million in early investment from multiple family offices in late 2021.
