SHIPSY: Tracking cargo movement from the first to the last mile

The B2B digital logistics platform claims to process over 10% of India’s total containerised export and import volume.

Shipsy co-founders—Dhruv Agrawal, Himanshu Gupta, Sahil Arora and Soham Chokshi—had used the Bloomberg Terminal, a platform that delivers real-time data on every asset class to market participants, in their previous avatars as bankers. However, when they had to check the underlying goods and how these were moving along the pipeline it had to be done completely offline. All communication, price discovery and more happens through emails and calls because that is the only one platform that is accessible to everyone. Seeing the needs of the market—where players needed real-time visibility and reduced costs—the team set out to build a Bloomberg-like platform for supply chain management—creating the largest supply chain network by bringing all participants such as exporters, importers, third party logistics, shipping lines, banks, insurance companies on a single platform. Thus Shipsy was born in early 2015 in Gurugram as a B2B digital logistics platform.It has raised about Rs 10 crore till date.

“It is a data-driven decision making venture for logistics and supply chain working with both domestic and foreign freight,” says Soham Choksi, CEO and co-founder of the startup. “Shipsy is a platform which is SaaS-based logistics software designed to bring visibility and operational efficiency. The platform today processes over 10% of India’s total containerised export and import volume.”

The Shipsy team realised that one of the most pressing issues in the logistics sector is lack of visibility. While at many places this is because of lack of digitalisation, at some places it is due to failure of traditional systems in handling huge volumes of data. Cognitive overload is quite common as well, with most players unable to extract actionable insights out of the enormous amount of metrics and charts.

“We created a platform to address the above problems, with a focus on usability, scalability, modularity. We not only provide visibility and analytics, but by using adaptive machine learning algorithms we provide the most important actionable insights in the form of alerts. So the users never miss what is most important for their business. Our system is integrated with the traditional ERPs, so it acts as a layer on top of their existing software,” Choksi says.
Shipsy’s clients have so far used the platform to address problems related to real-time visibility, location intelligence, last-mile delivery optimisation and supply chain planning. Its live products include a central workforce management dashboard, a field workforce mobile application, a first mile online booking system, a CRM portal and analytics engine.

According to the Shipsy CEO, the network is used by India’s largest petrochem, steel, rice and pharmaceutical exporters and also powers more than 500 small and medium sized companies. “We also have customers across Dubai, Saudi Arabia, North Africa, Singapore and Malaysia,” he adds. It has managed to build integrations with over 40 shipping lines, more than 30 LTL (less than load) operators and is adding integrations with port authorities, customs authorities and more to automate the flow of digital documents across the supply chain.

According to Choksi, the government has been reiterating the importance of making India an export hub and focusing on supply chain excellence. “We see this and the overall global need for digitisation in the supply chain as providing Shipsy a tailwind for exponential future growth. While human movement around the world may reduce, cargo movement just cannot. The team is focused on building a truly global supply chain technology company out of India.”

CAPTION: (L-R) Shipsy co-founders Dhruv Agrawal, Himanshu Gupta, Sahil Arora & Soham Chokshi

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.