Ecom Express, which was founded in 2012, is a prominent logistics service provider in India. The firm provides a number of services, including express services, digital services, and fulfilment services.
‘Ecom Express Service‘ and ‘Ecom Ground Service‘ are two of the Express services. Ecom Express Service provides pick-up (from sellers or warehouses) and delivery (to end consumers) of items bought online. While Ecom Ground Service is especially created for carrying large and heavy cargo, they employ in-built automated systems to track orders from start to finish.
Under the Express service, Ecom Express also provides QC (quality check) enabled reverse logistics facilities, in which trained Ecom Express executives perform quality checks on products returned by end customers and safely deliver them to the sellers or the warehouse from which the product was dispatched.
Ecom Digital Services provides e-KYC-Aadhar-based biometric verification as well as industry-specific cash, cheque, and document collection, as well as Contact Point Verification (CPV).
Ecom Express provides storage and order management services as part of its Ecom fulfilment services. In terms of warehousing, clients may select the location of the warehouse as well as the amount of space necessary based on their needs.
Founders/History
Ecom Express was founded by four ex-Blue Dart executives with a combined expertise of more than 25 years in the logistics industry. It was back in 2012, when markets weren’t as robust as they are now, and the e-commerce industry was just getting started. In addition, the logistics service was not as good as it looks now.
According to the Ecom Express startup story, four Blue Dart Express business professionals sat for dinner – Sanjeev Saxena, Manju Dhawan, K. Satyanarayana, and T.A. Krishnan – and when they left the table, they were full of the idea for their new logistics startup, which would eventually be named Ecom Express. The experience that the Blue Dart Express staffers had allowed them to formulate the notion that the B2C part of the market would want their assistance, which is why they pursued a B2B business. The Ecom Express business was established in August 2012, and its activities began in January 2013.
Ecom Express was founded in 2012, when the e-commerce business was not as prominent as it is today. However, with their years of expertise, the Ecom Express founders were able to predict the expansion that the logistics industry would see as a result of the e-commerce revolution, and it was this vision that prompted them to start up.
Business Model
Ecom Express is a B2B company that provides services to e-commerce businesses. Ecom Express also offers digital services to firms in the banking, insurance, and financial industries. Market giants such as Amazon, Flipkart, Clovia, Myntra, Paytm, Nykaa, and others are among Ecom Express’ clients.
Ecom Express generates a large percentage of their revenue through delivery and commissions.
Funding and Investors
Ecom Express has received a total of $485.4 million in investment over the course of six funding rounds, including its most recent round of $20 million from the CDC group in March 2021.
According to the Board of Directors of the New Delhi-based logistics business, Ecom Express is now seeking for an IPO valued roughly Rs 4,860 crore ($648 mn), which would include a public offering of shares. As of February 2, 2022, this IPO will include a fresh issue of shares for Rs 2,160 crore and an offer for sale of Rs 2,700 crore from the company’s current investors. The corporation was just converted to a public entity. This brings Ecom Express one step closer to submitting its DRHP with the market regulator SEBI, making it the second logistics and delivery business to file a draught red herring prospectus from the delivery segment.
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Growth and Revenue
Ecom Express has surely reached a number of growth milestones since its inception in 2012. The following are some of the brand’s main growth highlights:
- Ecom Express now provides logistical services in over 2650 towns.
- Currently, the organisation serves over 27,000 different pin codes.
- Ecom Express claims to employ over 36000 employees.
- The firm operates around 2930 facility centres.
In FY20, the company’s annual sales is expected to be $167.48 million. Ecom Express’ revenue climbed by 76 percent from INR 579 Cr in fiscal year 2017-2018 to INR 1018 Cr in fiscal year 2018-2019. During the same period, the net loss decreased from INR 526 Cr to INR 129 Cr, making 2018-2019 a virtuous year for Ecom Express in terms of revenue achievement.
Future
Ecom Express intends to hire around 15,000 people over the next two years. Ecom Express strives to be the greatest supporter and solution provider for logistics services in the e-commerce business, with a presence not restricted to simply significant cities and towns, but also numerous tier II, III, and IV cities and hinterlands. The Ecom Express purpose is to be the industry leader in terms of Integrity, Commitment, Openness, Respect, and Passion.
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