B2B e-commerce agency Indiamart on Wednesday acquired stake in two firms, Shipway Know-how and Truckhall, for about Rs 20 crore to strengthen its expertise providing in logistics administration, in keeping with a regulatory submitting.
The corporate has acquired 26 per cent stake in software program firm Shipway Know-how for as much as Rs 18.2 crore, and an extra 3.02 per cent stake in Truckhall for Rs 1.33 crore.
In keeping with the submitting, Indiamart Intermesh via its wholly-owned subsidiary Tradezeal On-line will purchase 100 fairness shares and 4,088 compulsorily convertible desire shares (CCPS) of Shipway Applied sciences.
“The ultimate combination shareholding of the corporate, submit this funding, within the stated entity can be 26 per cent of the share capital on a totally transformed and diluted foundation,” the submitting stated.
Shipway is engaged within the enterprise of creating software-as-a-service (SaaS)-based options which permit small companies to automate their delivery operations.
Its flagship product ‘Shipway’ permits sellers to enhance the delivery expertise for his or her clients by offering branded monitoring pages, sending out automated supply notifications, and capturing buyer suggestions.
It additionally has one other product that allows sellers to automate their again workplace delivery workflows, together with courier allocation, bulk label printing, fraud detection and returns administration.
Indiamart via Tradezeal On-line will purchase 1,779 fairness shares for a complete consideration of as much as Rs 1.33 crore at a worth of Rs 7,477 per share from IIM-Calcutta Innovation Park in Truckhall.
Truckhall is within the enterprise of making on-line market and software program growth for the logistics business, together with operating and managing a digital platform ‘SuperProcure’.
On completion of the transaction, Indiamart’s stake within the firm will improve to 25.02 per cent in Truckhall.