Mahindra Logistics Ltd (MLL) on Monday said it has acquired a majority stake in last-mile delivery services provider Whizzard.
The acquisition will complement Mahindra Logistics' existing last-mile delivery business and its electric vehicle-based delivery services, EDeL, MLL said in a statement, without disclosing the amount it paid for the stake purchase.
Hyderabad-based Whizzard operates an intra-city distribution network for digital commerce and last-mile delivery. It enables seamless handling of 60-million packages per year, across diverse segments, as per the statement.
“Last-mile delivery and fulfillment continue to see strong tailwinds with increased digital adoption, expanding delivery networks, and the onset of quick commerce. This association will enhance and strengthen our existing presence for our customers in e-commerce and other segments,” said Rampraveen Swaminathan, MD & CEO, MLL.
Whizzard has built deep capabilities and delivered strong growth till date, he said, adding, “we look forward to building the association together and providing customers with integrated solutions”.
Whizzard has grown 10 times in the last three years and serves customers with its full-stack digital capabilities and micro-distribution centers catering to over 3,000 pin codes, the release stated.
“Mahindra Logistics with a large customer base has the significant strategic advantage for a last-mile delivery company like us. We...look forward to rapidly scaling our business in the coming years,” said Ankit Mandhania and Arun Rao, co-founders of Whizzard.