Ratan Tata invests in logistics firm Mailit

• Ratan Tata has invested in Mailit, technology-driven mailroom management, and logistics company.
• With the funding, it is planning to launch 500 mailrooms across India in addition to establishing fully mechanized warehouses and distribution centers.
• The long-term objective of Mailit is to consolidate the entire value chain so that the startup could bring down logistics and distribution costs.

Ratan Tata, a renowned industrialist, has invested in Mailit, technology-driven mailroom management, and logistics firm. Although the financial details of the investment were not disclosed, Mailit stated that in the next five years it expects to open 500 mailrooms across India as well as fully automated warehouse and distribution centers.

Leading corporates and other blue-chip companies in the Tata Group use Mailit for the courier, cargo, 3PL, mailroom management digital solutions, and postal services.

According to a statement released on Wednesday, his plan focuses on creating India's first digitally integrated Logistics & Mailroom Solutions (IL&MS) platform, which will bring much-needed consolidation, increased performance, and exposure to a fragmented market.

Mailit will concentrate on introducing seamless end-to-end delivery with real-time visibility to the entire value chain, lowering overall logistics and distribution costs, according to the company.

"With the government reiterating its commitment to strengthening the infrastructure sector, Tata believes the Mailit IL&MS platform would drive cost savings, improve supply chain operational efficiencies, and create jobs across India," the company said.

Mailit's founder and CEO, Mahesh Shirodkar, said that Tata's investment "opens up a wider growth prospect" for the company.

Also Read: Tata Group and Walmart in Talks for an Investment up to $25 Bn in Tata’s ‘Super App’

"We plan to expand our activities across several geographies. Mailit expects an upward trajectory from here on, thanks to our state-of-the-art operations and skilled professionals, as well as the use of the most cutting-edge technology available today "the founder added.

The Tata Sons chairman emeritus has been investing heavily in start-ups, including e-commerce businesses, pet care companies, and cab aggregators. Snapdeal, Kaaryah, DogSpot, Urban Ladder, Bluestone, CarDekho, Sabse Technologies, Xiaomi, and Ola are among the companies he has sponsored in the past.

with inputs from Press Trust of India (PTI)

Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.