Delhivery acquires Pune-based Algorhythm Tech to strengthen its supply chain
Delhiveryto acquire supply chainsolutions provider, Algorhythm Tech.
- The company said the transaction is expected to be completed by 31st Jan 2023.
- Algorhythm offers end-to-end supply chain planning and execution products to clients across FMCG, pharma, steel, auto, and telecom sectors.
AdvertisementDelhivery, India's fully-integrated logistics service provider, will acquire the Pune-based Algorhythm Tech, which delivers intelligent planning and optimization solutions for enterprise supply chain operations. The company said the transaction is expected to be completed by 31st Jan 2023. This would be a 100% acquisition post which Algorhythm Tech will operate as a wholly owned subsidiary of Delhivery Limited.
Founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar, Algorhythm offers end-to-end supply chain planning & execution products to clients across FMCG, pharma, steel, auto, and telecom sectors, through its proprietary Rhythm 3.0 platform.
Commenting on the announcement, Sandeep Kumar Barasia, Executive Director and Chief Business Officer, said, “We congratulate Abhaya, Ajit, and Sandeep on building a truly differentiated product offering with a great depth and breadth of coverage across industry sectors and use cases. Given that technology has and continues to be our core business differentiator, Algorhythm Tech’s SCM software products will enhance our Supply Chain Solutions offering with value-added services and also drive cost optimization in service delivery. These SCM products are increasingly becoming vital for supply chain planning and optimization. And our clients will have the option of availing the benefits of these as part of our Integrated Solutions platform.”
Delhivery's Supply Chain Solutions business combines warehousing and transportation operations, infrastructure, network, and technology with deep data science and business intelligence capabilities. Enabling the company to provide comprehensive and integrated logistics solutions that improve its customers’ supply chain reliability, speed, and efficiency.
Ajit Singh, co-founder, Algorhythm Tech, added, “Delhivery has made great strides to emerge as the largest logistics provider in India in a decade, and we can think of no better team or company to work with to accelerate our joint vision for the future.”
Google for India goes heavy on AI — From reading handwritten prescriptions to enhancing agricultural capabilities, here’s all you need to know
Top upcoming games in 2023: Here’s what PC, PlayStation, and Xbox users should expect
Popular on BI
- Travel Boom: India spends 2X of pre-pandemic level on Airbnb with Goa leading the charge
- Swiggy disburses over Rs 450 cr in loans to 8000 restaurant owners
- Hyundai Motor India says all its vehicles to come with 6 airbags
- Earthquake jolts Delhi and other parts of northern India
- World Bank pegs India's FY24 GDP growth at 6.3% as global headwinds emerge