A recent report by a news agency PTI said Ratan Tata, one of the popular industrialists has invested in Mumbai-based logistics tech startup Mailit.
The company aims to launch 500 mailrooms across the nation, besides building fully functional merchandised warehouses and distribution centers, in the coming years. It is more like a substitute and more flexible way of operating tech logistics quickly, instead of waiting for the development of centers.
While commenting on the new deal, Mahesh Shirodkar, founder and CMD of Mailit said that the investment by Tata Group opens up a more voluminous growth prospect for the company in the long run. “We intend to scale up the operations across geographies by the use of the most innovative technologies available today, the firm expects an upward trajectory from here on”.
It is a Mumbai-based mailroom management provider and a leading dispatch aggregator that offers personalized dispatch of numerous packages. It also includes bulk dispatch of documents and parcels both domestically and internationally. It is a subsidiary of Shirodkar Cargo Services Pvt. Ltd.
Currently, its services are being used by leading corporates and blue-chip giants involving Tata Group.
The investment by the Tata Group came at a time when the company itself was looking for ways to diversify its primary business and shift to more digitized and technical services. Thus, it decided to invest in Mailit, for tech logistics and smooth movement.
The market already witnesses how frequently Tata Group invests in helpful startups and motivates them to grow. Some of them are Snapdeal, DogSpot, Kaaryah, Urban Ladder, Bluestone, CarDekho, Sabse Technologies, Ola, and Xiaomi.
With the surge in Covid-19 across the nation, logistics tech startups are bound to attract attention again from investors, much like last year. For instance, Delhi-based logistics startup Ecom Express raised $20 million. Secondly, Unicorn Delhivery raised $3 billion in the latest funding before its IPO. The second wave moving table towards tech and digital logistics for better business operations.