LogiNext, Mumbai based logistical analytics startup, backed by Paytm, has confirmed the acquisition of YourGuy, another Mumbai based startup making cross-category last mile delivery possible, in a deal involving cash and equity.
More details on this deal, including the financials involved have not been disclosed. However, once the deal is completed, the whole team of YourGuy, including 20 team members along with 200 delivery personnel will join Sprints, a vertical of LogiNext working on the last mile delivery segment.
LogiNext, founded in 2014 by Dhruvil Sanghvi and Manisha Raisinghani helps the logistic companies to improve their internal operations, provide better customer support and optimize delivery networks by collecting the data to further work on that using the advanced technology and analytical approach the startup has built. It announced the launch of Sprintr, the hyperlocal on-demand delivery platform, last week and the acquisition shows the aggressive approach of LogiNext going forward in this particular domain.
Speaking on the development, Dhruvil Sanghvi added that the consumer base of YourGuy will be a key addition to Sprintr as both the startups are clocking pretty much the same numbers. So the merger of two startups will increase the consumer base by 100% for Sprintr. Also, LogiNext will be feeding the world class technology to YourGuy’s customers which will make it an even better combination in the time to come.
YourGuy was founded in 2014 by Alay Jhaveri. It is a B2B startup delivering products like medicines, documents, clothing and other items for clients in pharma, clothing, food, retail and grocery segments. It claims to have done over 250,000 deliveries overall with daily number reaching upto 4000.