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Mumbai, India, October 23, 2018- Ebix,
Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and
E-commerce services to the insurance, financial, healthcare and e-learning
industries, today announced that one of its India-based EbixCash subsidiaries has
acquired a 67 percent stake in Routier,
a Delhi-based B2B Marketplace for Trucking
Logistics. Routier is pioneering a cloud based technology to change the way
people move and receive inland goods in India.
Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and
E-commerce services to the insurance, financial, healthcare and e-learning
industries, today announced that one of its India-based EbixCash subsidiaries has
acquired a 67 percent stake in Routier,
a Delhi-based B2B Marketplace for Trucking
Logistics. Routier is pioneering a cloud based technology to change the way
people move and receive inland goods in India.
Founded by First generation
entrepreneurs and operating team senior Executives Ankur Dahiya and Adwait
Vikram Singh from the Indian Institute of Management (IIM) and Harvard Law School,
respectively, Routier seeks to revolutionize trucking logistics in the same way
taxi logistics have been transformed by Uber, Ola and others. Routier aims to drive
efficiency for all marketplace stakeholders, using an innovative blend of data
analytics, artificial intelligence and end-to-end streamlined functionality
available over the cloud.
entrepreneurs and operating team senior Executives Ankur Dahiya and Adwait
Vikram Singh from the Indian Institute of Management (IIM) and Harvard Law School,
respectively, Routier seeks to revolutionize trucking logistics in the same way
taxi logistics have been transformed by Uber, Ola and others. Routier aims to drive
efficiency for all marketplace stakeholders, using an innovative blend of data
analytics, artificial intelligence and end-to-end streamlined functionality
available over the cloud.
With clients like Coca Cola, Asian
Paints, and Samsung. Routier’s marketplace is already proving its ability to
add efficiency to freight movement. The EbixCash investment was driven by
Routier’s desire for a strategic investor who could provide added technology
expertise, financial strength and brand recognition to accelerate its
penetration of major trucking logistics. Routier is the first start-up where
Ebix has made a strategic investment.
Paints, and Samsung. Routier’s marketplace is already proving its ability to
add efficiency to freight movement. The EbixCash investment was driven by
Routier’s desire for a strategic investor who could provide added technology
expertise, financial strength and brand recognition to accelerate its
penetration of major trucking logistics. Routier is the first start-up where
Ebix has made a strategic investment.
With a market opportunity expected to reach
$300 billion by 2020, Routier looks to drive productivity and transparency
through a transportation sector long considered one of the most inefficient.
Routier’s online cloud based logistics marketplace connects companies that
require their goods to be delivered (Shippers), typically with small trucking companies
who account for 75% of the freight transportation business (Carriers); allowing
the Carriers the ability to win a Shipper’s business by bidding from any
smartphone, hand-held device or computer.
$300 billion by 2020, Routier looks to drive productivity and transparency
through a transportation sector long considered one of the most inefficient.
Routier’s online cloud based logistics marketplace connects companies that
require their goods to be delivered (Shippers), typically with small trucking companies
who account for 75% of the freight transportation business (Carriers); allowing
the Carriers the ability to win a Shipper’s business by bidding from any
smartphone, hand-held device or computer.
All stakeholders win when a supply
chain is efficient, so Routier Marketplace is built from the ground up to help Shippers
reduce costs, save time, and make informed decisions that increase
profitability. At the same time, Carriers benefit from instantaneous nationwide
access to recurring business through a blend of technology, transparency, ease
of use and other features that directly benefit their bottom line.
chain is efficient, so Routier Marketplace is built from the ground up to help Shippers
reduce costs, save time, and make informed decisions that increase
profitability. At the same time, Carriers benefit from instantaneous nationwide
access to recurring business through a blend of technology, transparency, ease
of use and other features that directly benefit their bottom line.
Ebix Chairman, President and CEO Robin
Raina said “Exchanges and marketplaces are meant to provide a network effect that
drives efficiency for all concerned and are best targeted at industries that
are highly inefficient and lack technology savvy. India’s trucking industry is
a perfect example of such an opportunity to deliver tremendous value and
efficiency, and thus we are quite excited to be partnering with Routier in its mission
to redefine the trucking logistics industry.
Raina said “Exchanges and marketplaces are meant to provide a network effect that
drives efficiency for all concerned and are best targeted at industries that
are highly inefficient and lack technology savvy. India’s trucking industry is
a perfect example of such an opportunity to deliver tremendous value and
efficiency, and thus we are quite excited to be partnering with Routier in its mission
to redefine the trucking logistics industry.
Robin added, “Routier recently secured multi-million
dollar commitments from a few large multinational corporations, and thus needed
the backing of Ebix in terms of technology expertise, manpower and working
capital to implement and scale these and other opportunities. We are excited to
invest in this pioneering effort at an opportune time, and look forward to building
what could be a large marketplace for the trucking industry.”
dollar commitments from a few large multinational corporations, and thus needed
the backing of Ebix in terms of technology expertise, manpower and working
capital to implement and scale these and other opportunities. We are excited to
invest in this pioneering effort at an opportune time, and look forward to building
what could be a large marketplace for the trucking industry.”
Routier Founder Ankur Dahiya said, ‘Technology
can serve as key disruptive force in the logistics sector. Routier aims to use
Data Science as a key enabler to organize the fragmented market. By
match-making supply and demand, even if we can use 30% of unutilized capacity,
we can cause a major positive impact in the Industry in terms of productivity
and profitability both.’
can serve as key disruptive force in the logistics sector. Routier aims to use
Data Science as a key enabler to organize the fragmented market. By
match-making supply and demand, even if we can use 30% of unutilized capacity,
we can cause a major positive impact in the Industry in terms of productivity
and profitability both.’
Routier Co-Founder Adwait Vikram Singh
said, “Routier has the potential to rationalize the Logistics sector not only
in India but also for the global markets. Currently, Routier operates only in
inland logistics but eventually aims to become a key player in streamlining
cross border freight movement on a single enterprise marketplace platform.
Routier has the vision to become an End-to-End supply chain network, that can
handle freight movement to last mile delivery, for transportation across
country borders.’
said, “Routier has the potential to rationalize the Logistics sector not only
in India but also for the global markets. Currently, Routier operates only in
inland logistics but eventually aims to become a key player in streamlining
cross border freight movement on a single enterprise marketplace platform.
Routier has the vision to become an End-to-End supply chain network, that can
handle freight movement to last mile delivery, for transportation across
country borders.’
