9 High-Growth-Potential Startups to Kick-Off Their Acceleration Journey with Supply Chain Labs

India’s first-ever and first-of-its-kind acceleration programme for supply chain startups, Supply Chain Labs by Lumis Partners, is all set to commence on September 1, 2019 with its fantastic final cohort of 9 early-stage, high-growth-potential supply chain startups with cutting-edge solutions to supply chain challenges of global relevance.

This holistic 2-month programme is offered by Lumis Partners, an operating investment firm and a global leader in the logistics and supply chain management space that is committed to bridging the gaps in the supply chain industry, building a resilient and robust ecosystem and thereby, driving the industry towards unparalleled growth and efficiency.

Supply Chain Labs has had overwhelming support from the corporate houses, industry leaders and global investors right from its inception and the Programme has strategic partnerships with MIT (academic partner), Yes Bank (corporate innovation partner) and AWS (technology partner).

The Selection Phase

Having received a remarkable response from supply chain startups from across India, the process of shortlisting the Top 15 out of 600+ applicants for the Grand Jury Session involved rigorous and thorough scrutiny and assessment spread across 4 stages. The fantastic final cohort of 9 high-potential supply chain startups was selected at the Grand Jury Session on August 13, 2019 by a distinguished jury comprising of experienced investors, corporate leaders and industry stalwarts.

The first-ever batch of Supply Chain Labs includes

  • Xpedize Ventures Private Limited is a comprehensive tech-enabled platform for Supply Chain Finance that eliminates inefficiencies and delivers profitability for buyers and sellers.

  • SuperProcure – TruckHall Pvt Ltd is a cohesive and unique platform to enable businesses of all kinds and sizes to simplify vehicle procurement, trip management and logistics and thereby, reduce their logistics budgets.

  • FreightBro is a unique and cohesive freight forwarding platform that enables freight forwards to remove inefficiencies, procure the right prices and boost sales.

  • Quifers’ logistics management software is enabling businesses to transform their logistics with effective delivery planning, route optimization, fleet utilization, tracking, etc.

  • Odwen – Udghata Technology Private Limited is India’s first DIY warehousing management system that is making warehousing simple, efficient, secure and affordable.

  • Rezo Technologies Private Limited is a Supply Chain Finance platform that leverages automation to securely and efficiently connect corporate buyers with suppliers helping them discount or finance invoices at cheaper prices.

  • Crofarm AgroProducts is a creating zero-wastage agricultural supply chain that helps farmers get the right price for their produce and consumers get the best-quality and fresh agri-products delivered at their doorstep.

  • Smartstorey is a one-stop-shop for home and lifestyle solutions that enables customers to source construction and home interior requirements (from building materials to carpets) from anywhere across the country.

  • Elixia Tech is empowering businesses across industries with smart, comprehensive and customized data-enabled solutions for transportation, logistics and supply chain management.

“It is very exciting to see the drive and innovation presently in India. Supply Chain and logistics solutions of global quality and depth are coming out strong. There are definitely some really valuable companies in the making here” – Victor Martinez-Angles, Senior Partner at Lumis

The Acceleration Phase

The 2-month acceleration phase will include tailored handholding support to each of the 9 startups to enable them to refine their solutions/ products, think and act global, develop competitive advantages and build a solid foundation for accelerated growth.

Knowledge and capacity building are key parts of the Programme. The startups will be part of a 1-week programme at MIT’s Zaragoza Logistics Centre (ZLC), Spain to gain exposure to critical concepts and international best practices in the field. The startups will also be part of a series of incisive business, domain and commercial workshops led by mentors, investors, and corporates.

Through the Supply Chain Labs programme, each of the startups will get access to Lumis’ global network of partners, investors, mentors and other best-in-class resources with opportunities to showcase products/ solutions to a curated set of corporates and pitch to potential investors.

The collaboration with the startups does not end with the 2-month acceleration phase. There will be a continued interaction phase spanning 4 months where the startups will continue to receive mentoring and support from Lumis. The graduated startups will be alumni for life with access to the Lumis’ senior leadership for support and guidance.

The next batch for the Supply Chain Labs Programme will be announced in 2020. For any further information, visit https://supplychainlabs.in/.

India’s First-Ever Supply Chain Fellowship Programme Concludes the Selection Phase with the Grand Jury Session

Supply Chain Labs is an Acceleration Programme by Lumis Partners with MIT as the academic partner, Yes Bank as the corporate innovation partner and AWS as the technology partner for Early-Stage Supply Chain Startups with High Growth Potential.

India’s first-ever Acceleration Programme aimed at revolutionising the supply chain space in India, Supply Chain Labs by Lumis Partners, is all set to kick-off on September 1, 2019. Supply Chain Labs is a first-of-its-kind acceleration programme in India that aims to bring next-gen business models and cutting-edge supply chain solutions to truly transform the efficiency, productivity and profitability for all stakeholders and to bridge the wide gaps that exist in investments in grassroots solutions that solve complex, global SC challenges.

Right from the announcement of the initiative, Supply Chain Labs has received a remarkable response from the SC startups from across the country with over 600 of them applying to be part of the programme. The programme has also received massive support from big corporations, industry leaders and seasoned investors from across the globe.

The Top 15

After a rigorous process of scrutiny and thorough analysis of the applications and ideas spread across 4 stages, 15 startups were shortlisted for the Grand Jury Session on August 13, 2019. The Top 15 startups belong to a wide range of different sub-segments of the supply chain industry and not just traditionally over-invested sub-segments of the industry.

  • Crofarm AgroProducts is a creating zero-wastage agricultural supply chain that helps farmers get the right price for their produce and consumers get the best-quality and fresh agri-products delivered at their doorstep.
  • Elixia Tech is empowering businesses across industries with smart, comprehensive and customized data-enabled solutions for transportation, logistics and supply chain management.
  • Decker Logistics Pvt Ltd’s ValueShipr solution is enabling the development of an organized and transparent Logistics Ecosystem for all associated stakeholders and creating tremendous value.
  • Quifers’ logistics management software is enabling businesses to transform their logistics with effective delivery planning, route optimization, fleet utilization, tracking, etc.
  • Smartstorey is a one-stop-shop for home and lifestyle solutions that enables customers to source construction and home interior requirements (from building materials to carpets) from anywhere across the country.
  • FreightBro is a unique and cohesive freight forwarding platform that enables freight forwards to remove inefficiencies, procure the right prices and boost sales.
  • Odwen – Udghata Technology Private Limited is India’s first DIY warehousing management system that is making warehousing simple, efficient, secure and affordable.
  • Adapt Ideations Pvt Ltd is a B2B platform leveraging IoT, Blockchain and other futuristic technologies to deliver smart and customized supply chain solutions.
  • Rezofin Technologies Private Limited is an SC Finance platform that leverages automation to securely and efficiently connect corporate buyers with suppliers helping them discount or finance invoices at cheaper prices.
  • SuperProcure – TruckHall Pvt Ltd is a cohesive and unique platform to enable businesses of all kinds and sizes to simplify vehicle procurement, trip management and logistics and thereby, reduce their logistics budgets.
  • Shiplyst Systems Private Limited is a hassle-free and comprehensive platform for businesses to get and compare quotes from multiple freight-forwarders for ocean shipments and effectively manage shipments.
  • Xpedize Ventures Private Limited is a comprehensive tech-enabled platform for SC Finance that eliminates inefficiencies and delivers profitability for buyers and sellers.
  • Thar Shipping Lines LLP (PortExcel) is an efficient, hassle-free and end-to-end logistics (air and sea) management platform that provides real-time visibility to shipment.
  • Logistimo India Private Limited is an open-source, inclusive value chain platform to fulfill healthcare delivery needs and ensure health equity of the rural population.
  • Planet Express Innovations Pvt Ltd is a simple and powerful shipping tool that reduces time and effort by 50% for businesses looking to make a global impact.

The Grand Jury Session

At the Grand Jury Session, each of the Top 15 startups did a 6-minute pitch to the jury followed by a 3-minute Q&A round. The final cohort of startups was decided based on the complexity of the problem that the startups are solving, their uniqueness, commercial traction, how they will benefit from the acceleration programme, their vision and growth potential.

The distinguished jury consisted of members of the investor community, industry leaders, domain experts, corporates, seasoned entrepreneurs and the core committee members of Lumis Partners. The jury has years of experience in the SC space and knows the supply chain industry inside out. This was visible in the Q&A session as they asked super domain-specific questions to each of the startups to get deeper insights into their solutions and analyse the possible growth outcomes.

The Distinguished Jury included:

Overall, the Grand Jury Session was a huge success and a momentous occasion for the supply chain industry in India. The seasoned jury finalized the fantastic final cohort of 9 high-potential, early-stage supply chain startups for the Supply Chain Labs Programme that is all set to kick off on September 1, 2019.

The final cohort of 9 startups selected for the SCL Programme are:

  1. Xpedize Ventures Private Limited

  2. SuperProcure – TruckHall Pvt Ltd

  3. FreightBro

  4. Quifers

  5. Odwen – Udghata Technology Private Limited

  6. Rezo Technologies Private Limited

  7. Crofarm AgroProducts

  8. Smartstorey

  9. Elixia Tech

Supply Chain Labs congratulates the top 9 startups and welcomes them onboard for a long-term collaboration.

For further information on the Supply Chain Labs Programme, visit https://supplychainlabs.in/.

The Criticality of Digital Transformation and Innovations in The Supply Chains of Large Organizations

Large organizations with mass consumption products are heavily reliant on the effectiveness and efficiency of the supply chain for their profitability and growth. For achieving such efficiency and effectiveness, there needs to be massive digital transformation and redesigning of the supply chain of large organizations.

We interviewed one of the SCL mentors, Suman Bose, to understand his perspectives on the criticality of the supply chain in the product life-cycle, the innovation status of large organizations about the supply chain and what the future of business holds. Suman Bose is an executive advisor to boards and CEOs on strategy and digital transformation. He is the former MD and CEO of Siemens Industry Software – India and has over 20 years of experience in business development.

Here are the key takeaways from the interview.

Key challenges and opportunities in reimagining the supply chain of large organizations

One of the major difficulties in reimagining the supply change and digitally transforming is

“the direct impact it may have on thousands of jobs, often leading to severe backlash from employees and pressure from labor unions.”

Digital transformation of the supply chain enables organizations to thrive, rather than survive in the long run. So, it is key that big companies look at solutions from smaller startups and mid-sized partners to reimagine the way they carry out SC tasks while finding effective ways to address the challenges.

Impact of supply chain innovations on the product life-cycle

Processes expedited through new automation-based business models:

Suman Bose explained the implication of new automation-based business models with the example of truckers in India.

Suppose a truck driver has to deliver a package from Ludhiana to Chennai and the estimated cost of the delivery is Rs. 40,000. The truck drivers cannot approach banks to raise working capital loans to fund this delivery as they usually do not have the requisite documents. Additionally, small delivery orders do not fit into the asset criteria even if banks can fund certain working capital loans based on asset criteria. To get funds for making the delivery, the truck drivers end up approaching money lenders who charge exorbitant interest rates and only provide the sum after deducting the interest amount. So, the truck driver starts with a disadvantage. To add to his troubles, the clients always delay payments, putting them in a vicious circle of debts and working capital deficits.

“This problem is being solved by an automation-based business model wherein the software/ tech solution fills the gaps in the loan process. When a purchase order is received, it automatically gets the requisite forms filled, collects necessary documents and send it to the bank. The bank scans the documents and approves the loan at a micro-finance interest rate/SME business rate.”

Automation, therefore, expedites the process and makes it efficient.

Technological innovations are enabling information gaps to be filled:

The traditional models and supply chain processes are ridden with inefficiencies, hefty costs and bottlenecks that permeate from severe information silos, poor visibility and heavy leakages.

“Technological innovations from supply chain startups are revolutionizing even small aspects of the supply chain. They are enabling better integration of systems, seamless information flow (breaking silos and filling information gaps), creation of unique identification systems and end-to-end visibility which are, in turn, immensely impacting the quality and process efficiency.”

Suman Bose explained this with the help of the example of a supply chain startup in Punjab that solving the twin problems of the excessive use of subsidized fertilizers and pesticides and resulting losses to the government. Distributors get fertilizer subsidies on a per kg basis and so they sold excessive amounts to farmers by fudging the data. Farmers, in turn, excessively used these and caused soil quality degradation and water pollution. So, the startup engages in soil testing at a satellite level and ground level, estimating the quantity and quality of pesticides and fertilizers that are to be used on that particular piece of land. By linking this with the Government data, it helped prevent fudging of data (as one can fudge the ground level tests but cannot fudge the satellite level tests) and saving the Government from losses and leakages.

Mass customization and frugality will be made possible

Frugality comes from greater visibility – tying up the loose ends of existing information while not losing business lucrativeness.

“In the near future, tech innovations will make it possible to integrate the 360-degree view of consumption data into the supply chain and thereby, into manufacturing and procurement of products. This is nothing but mass customization. And mass customization is what a frugal economy will be all about.”