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Paytm-backed LogiNext targets $3 mn by 2017

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LogiNext Solutions, the supply chain automation supported by Paytm is looking  forward to achieve a target of Rs 20 crore by next fiscal. It is also aiming at increasing its shipments up to 2 lakh per day, said a top official who did not want to be named, was quoted by PTI as saying.

Co-founder & CEO of LogiNext, Dhruvil Sanghvi was quoted by PTI as saying: “In the next financial year, we are looking at increasing our revenue to $3 million (Rs 20 crore) and aim to touch 2 lakh shipments a day from 50,000 currently.”

Dhruvil Sanghvi and Manisha Raisinghani established LogiNext in 2014.

The company has two revenue models. Firstly, it sells software and charges clients licencing fee per delivery person every month for the business they conduct.

The other model is where the company undertakes deliveries on behalf of the client and charges a fee for it. LogiNext works on automated supply chain nodes. It helps clients trail their shipments from the pick-ups points to line loading till the last point and also provides reverse logistics. It processes around 50,000 shipments per day.

LogiNext has more than 50 clients, around 100 small entrepreneurs and companies like Mahindra, Myntra, Paytm, Reliance Fresh and D-Mart. The company operates in 24 cities all over the country and has increased its revenue up to 500 per cent in 2015.

The company aims to break even by 2017 fiscal.

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