Delhivery, India’s largest fully-integrated logistics service provider, said Tuesday it will acquire the India-based supply chain technology firm Algorhythm Tech Pvt. Ltd., to strengthen its integrated supply chain solutions offering.
In a statement, Delhivery said the transaction is expected to be completed by Jan 31, 2023.
This would be a 100 percent acquisition post which Algorhythm Tech will operate as a wholly owned subsidiary of Delhivery Limited.
Founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar, Algorhythm offers end-to-end supply chain planning & execution products to clients across fast moving consumer goods (FMCG), pharma, steel, auto and telecom sectors, through its proprietary Rhythm 3.0 platform.
“Given that technology has and continues to be our core business differentiator, Algorhythm Tech’s SCM software products will enhance our supply chain solutions offering with value added services and also drive cost optimization in service delivery,” said Sandeep Kumar Barasia, Executive Director and Chief Business Officer of Delhivery.
“These SCM products are increasingly becoming vital for supply chain planning and optimization. And our clients will have the option of availing the benefits of these as part of our Integrated Solutions platform,” he added.
Delhivery’s supply chain solutions business combines the strength of its warehousing and transportation operations, infrastructure, network, and technology with deep data science and business intelligence capabilities.
This enables the company to provide comprehensive and integrated logistics solutions that improve the reliability, speed, and efficiency of its customers’ supply chains.
“Delhivery has made great strides to emerge as the largest logistics provider in India in a decade and we can think of no better team or company to work with to accelerate our joint vision for the future,” said Ajit Singh, Co-founder of Algorhythm Tech.
Delhivery is India’s largest fully-integrated logistics services provider.
With its nationwide network covering over 18,400 pin codes, the company provides a full suite of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services.
Delhivery has successfully fulfilled over 1.7 billion shipments since inception and today works with over 28,000 customers, including large and small e-commerce participants, small and medium-sized enterprises (SMEs), and other enterprises and brands.
Algorhythm Tech is an innovative supply chain technology company based out of Pune, that delivers intelligent planning and optimization solutions for enterprise supply chain operations.
The firm offers comprehensive supply chain planning and optimization solutions for Industry sectors like FMCG, pharma, steel, auto, telecom etc. through its proprietary, artificial intelligence (AI)-powered software as a service (SaaS) platform, rhythm 3.0.
Rhythm 3.0 consists of unique algorithmic products for delivering substantially higher efficiency in sales and operations planning, transportation and network planning.