Indian Logistics firm Smart Express raises ₹100 crore

02 Nov '21

3 min read

Pic: Smart Express

Indian logistics firm, Smart Express, has launched operations with a seed capital of ₹100 crores. The round is led by IIFL India Private Equity Fund and Smiti Holding & Trading Company (Jalaj Dani family office). The investment will happen in two tranches in the next two years linked to business milestones to expand across cities and reach a certain scale.

Smart Express is promoted by Yogesh Dhingra who has been the former CFO, COO and CSO of Blue Dart Express. Dhingra, has played a major role in the acquisition of Blue Dart by DHL. A veteran in the logistics space with more than 27 years of experience, he has led several initiatives to build a robust automated infrastructure at Blue Dart. The funds will be deployed for team building and creating Pick-Up and Delivery (PUD) and transit hub infrastructure to service customers across India. Other key areas where the funds will be utilised include development of unique and state-of-the-art technology to support operations and building innovative solutions that will enable customers to experience best-in-class services at optimal cost, the company said in a media statement.

Smart Express is looking to create a unique position for itself by addressing the industry pain points with its experienced and seasoned team, faster transit time, innovative and differentiated services, and scalable asset light model. Technology will be leveraged for consistent superior service delivery, real time 360 visibility. The start-up plans to commence its operations during the festive season this year in around 30 cities. In the next three years, Smart Express aspires to build over 300 centres across India, which will include its own PUD service centres, transit hubs, and alliance partners.

“We are committed to building a platform that provides high service quality and better products for our customers at competitive price point through a transparent process. Our state-of-the-art technology will help provide 360 visibility, faster transit time and better customer experience. To make a difference in the market, we are also creating a future ready team that has a combination of industry experience, passion and energy,” Yogesh Dhingra, managing director and CEO, Smart Express said in a statement.

Smart Express will build business across segments including B2B, B2C, D2C, C2C and hyper-local delivery over a period. As part of its unique service offering in the air express category, the company will provide AM/PM deliveries based on customer requirements. To reach out to customers who are unable to afford air services, the company will also offer packages with 48/72/96 hours deliveries for cost-effective solutions.

Fibre2Fashion News Desk (GK)

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