Indian startup ecosystem is evolving at a rapid pace and gradually spreading tentacles in more and more industries. The logistics industry is not left behind. The startups have managed overcoming traditional challenges with digital technology, automation and innovative solutions in the segment. The startups have set new standards for efficiency and customer satisfaction.
India historically relied on imported technology for warehouse automation. Homegrown companies like Falcon Autotech have emerged with changes in the system. Sandeep Bansal, Chief Business Officer of Falcon Autotech, highlighted how the startups are developing cutting-edge automation solutions which are particularly tailored for the Indian market. The shift is reducing costs as well as making warehouse operations more efficient.
Last-mile delivery system in the country is now witnessing a dramatic transformation. FarEye report titled ‘The Year of Change: Eye on the Last-Mile 2.0’ startups have played an important role in the new change. Companies like Locus are using artificial intelligence (AI) to optimize delivery routes, reduce logistics costs and simultaneously ensure timely deliveries. Locus has facilitated more than a billion deliveries across at least 30 countries. It has managed in saving over $288 million in logistics costs.
Startups are also revolutionizing the supply chain management system. B2B procurement marketplace ProcMart is digitizing the procurement processes and also optimizing the supply chains. Its CFO and CSO Sachin Jain explained how their platform in integrating advanced AI technologies and connecting various stakeholders. They are offering efficient sourcing solutions as well as strategic collaborations with local vendors.
Sustainability is another key area where Indian startups are dedicatedly working. They are adopting electric vehicles (EVs) and developing Electric Vehicle as a Service (EVaaS) models. They are gradually gaining popularity and getting recognized in the Indian logistic landscape.
