With the launch of the first Indian tech accelerator, the 3bs fidelity group has set out to bring technology and investors together. They are also looking to help entrepreneurs create innovative business models and grow their companies. The startup accelerator, which is based in Mumbai, India, was launched earlier this year and is already attracting funding from major tech firms including Facebook and Google. However, it’s still early days, and there are a number of challenges ahead.
Founders
Delhivery is one of the few startups that digitizes the logistics industry. It works with leading enterprises in the Indian market. The company serves over 17,500 zip codes and 2,300 Indian cities. They work with all of the country’s largest e-commerce companies, offering a full suite of logistics services.
Their latest funding round was led by Boston-based investment firm Fidelity. SoftBank Vision Fund, Tiger Global, and Carlyle Group also participated. This makes the startup’s valuation above $3 billion.
SALT is another startup that offers a digital-first payment platform. SALT’s product enables consumers to make payments easily across countries. In October, the company raised a $500,000 seed round. Now, the startup is moving into an end-to-end automated platform.
RecordBook is a SaaS-based application. It helps digitize workflows and data. The startup has offices in Bangalore and Hyderabad. RecordBook is available in both English and local languages.
InsureMyTeam is a health benefits platform for corporations in India. It covers traditional medical expenses, as well as unlimited consultations. Its founders have experience in healthcare, insurance, and sales. The company has posted $16,000 in revenue over the last five months.
Technology
The burgeoning logistics industry is a beast to reckon with. Hence, the need for a slew of start-ups to fill the many shoes that should be. To help out, a slew of VCs and angels have stepped up to the plate. One of these is Delhivery, a start-up that offers a full suite of transportation services in over 2,300 Indian cities. Unlike other unicorns of the road, Delhivery aims to be a player rather than just a one man show. Moreover, the company has a strong customer base, which includes some hefty sized companies. Hence, the need for a robust go-to-market strategy has been identified.
Business model
The market for logistics and delivery services is worth a trillion dollars or so. And while there’s no shortage of trucking firms and online couriers, Delhivery has managed to stand out from the crowd by offering a suite of logistical services. They also have a bevy of customers including all the big e-commerce players, as well as small and medium enterprises.
As a bonus, they manage to keep their head in the game by providing the best customer service in the industry. In addition, they’re able to keep costs down by leveraging technology and efficiencies. One of the more compelling advantages of the company’s business model is their ability to offer customers a one-stop shop for all of their logistics needs. This includes all of the aforementioned services and more, all under the same umbrella.
Their latest round of funding is in the form of $277 million. This includes an oh-so-pretty-sweet $100 million investment from FedEx Express, the ecommerce behemoth’s delivery arm. The company specializes in a number of niches such as food delivery, retail, and e-commerce.
