According to a news agency PTI said one of the most popular industrialists of India, Ratan Tata has invested in a Mumbai-based Logistics tech startup Mailit.
The startup claims to launch 500 mailrooms across the nation, the company will be developing fully functional merchandised warehouses and distribution centers, in the coming years.
Mahesh Shirodkar, the founder and CMD of Mailit said “ We will be using the funds provided by Tata Group in scaling the operations across geographies with the help of innovative technologies, he also stated that after the investment Mailit have opened the gates of growth for the company in long run”.
Brief about Mailit
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.
After the investments of Tata Group in Snapdeal, DogSpot, Kaaryah, Urban Ladder, Bluestone, CarDekho, Sabse Technologies, Ola, and Xiaomi. The market knows how frequently Tata Group invests in helpful startups and motivates them to grow.
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.