Friday, December 1

Ebix Acquires 67% Stake in Delhi-based B2B Marketplace

Ebix Inc has reportedly acquired 67% stake in a Delhi-based B2B marketplace called Routier for trucking logistics. Routier is the first start-up where Ebix has made a strategic investment.

Ebix is basically a Nasdaq listed international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. On the other hand, Routier is a cloud-based technology to change the way people move and receive inland goods in India.

This particular deal has been taken forward by one of its India-based EbixCash subsidiaries. Routier was founded by Ankur Dahiya and Adwait Vikram Singh who are the first generation entrepreneurs and operating team senior executives. The company expects to revolutionize trucking logistics in the same way taxi logistics have been transformed by Uber, Ola and others.

The basic aim of the company is to drive efficiency for all marketplace stakeholders, using an innovative blend of data analytics, artificial intelligence and end-to-end streamlined functionality available over the cloud.

“Routier has the potential to rationalize the logistics sector not only in India but also for the global markets. Currently, Routier operates only in inland logistics but eventually aims to become a key player in streamlining cross border freight movement on a single enterprise marketplace platform. Routier has the vision to become an end-to-end supply chain network, that can handle freight movement to last mile delivery, for transportation across country borders,” Routier Co-Founder Adwait Vikram Singh said.

The company counts Coca-Cola, Asian Paints, and Samsung as its clients. The EbixCash investment was driven by Routier’s desire for a strategic investor who could provide added technology expertise, financial strength and brand recognition to accelerate its penetration of major trucking logistics.