BENGALURU: Logistics SaaS company WebXpress, which is in final talks to raise a significant investment in the next quarter, is targeting Rs 14 crore turnover by FY 2023.
“This investment would help us expand our operations across UAE, Singapore, Australia, and the USA. Also, it will help us focus more on R&D,” Apurva Mankad, CEO, and Founder, WebXpress told TNIE.
It processes over 3.5 million orders and analyses over 100 million IoT signals every month. As per RedSeer report, the Indian road logistics market alone will be $330 billion by 2025, growing at a CAGR of 8%. India’s organised warehousing market will grow to $19.5 billion by 2025. There is renewed optimism in the logistics market post-pandemic, and the country’s manufacturing sector is benefiting from the re-balancing of global supply chains.
WebXpress is all set to increase its customer base by 10 times and revenues by 15 times over the next three to four years. It will close this fiscal year with a turnover of Rs 7.3 crore. The company wants to increase its footprint across India and in many countries across emerging markets in Southeast Asia and MENA regions. “We are also launching a slew of new products such as AI-enabled dock management, Control Tower as a Service, among others.
This will help us garner a larger share of logistics technology spend from our existing customers,” he said.
Now, customers are accepting the SaaS (Software as a service) model, and WebXpress has significantly benefited from the SaaS ecosystem.
Indian logistics market to be $330 bn by 2025
As per RedSeer report, the Indian road logistics market alone will be $330 billion by 2025, growing at a CAGR of 8%. India’s organised warehousing market will grow to $19.5 billion by 2025