Ever since the two-sided network model that connects customers with service providers using technology has seen success in business models like Ola, Uber and Airbnb, many sectors from food to freight have accepted digitization with the help of artificial intelligence and big data like fish takes to water. The whole idea of an ecosystem with little or no manpower involved – using computerization to re-factor the end-to-end transportation process and aiming to provide the best prices and services to shippers – is now becoming a natural and simple next step of evolution. This is turning several traditional business models into technological entities!
Additionally, the growing interest of venture capitalists (VCs) eyeing the Indian logistics space for funding is further fuelling the growth of technology-based aggregators. “The logistics industry has been on the VCs list ever since 2007. Post-2010, the first phase of investment came in seeing the favorable market sentiments, both in the long-haul segments and last-mile deliveries. In current times, the lockdown brought about by the pandemic has forced many logistics service providers (LSPs) to revisit their business models and scout for VC funding,” elaborates Sachin Haritash, Founder and CEO, Mavyn.
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