New Delhi: Software company LogiNext has acquired 100 per cent stake in Mumbai-based logistic firm YourGuy, valued at $1.5 million, to double its business capacity.
“YourGuy has already acquired a good number of matured and loyal customers. Since our new delivery vertical, Sprintr, is also clocking around the same number of deliveries, our delivery volumes and network reach will increase by 100% with this acquisition,” LogiNext Solutions CEO and Co-Founder Dhruvil Sanghvi said in a statement.
YourGuy will operate under LogiNext’s delivery platform Sprintr, which started in December 2015.
Any individual can sign up and become a delivery boy on their mobile app for Sprintr.
Founded in 2014, YourGuy has 20 staff and around 200 delivery personnel working on freelance basis. Post acquisition, all the employees including 200 delivery personnel will be absorbed by LogiNext.
At present, LogiNext delivers 4,000 products per day and with YourGuy on board, it would increase to 8,000 deliveries per day, it added.
“On top, we will also be selling our technology to YourGuy customers,” Sanghvi said.
YourGuy caters to multiple segments including pharma, documents, food, retail, laundry and grocery.
“I am glad that the consolidation came through, following which we are looking at polishing the platform, merging in innovative technology and offering further reformed services to our clients,” YourGuy Founder Alay Jhaveri said.