Tech in Asia: Delhivery to Acquire Supply Chain Startup Algorhythm Tech

Dec 29, 2022

(Image Source: Delhivery)

Delhivery, India's leading logistics service provider has announced plans to acquire 100% of a rising supply chain technology startup named Algorhythm Tech. While the details of the deal are yet to be revealed, Delhivery has reportedly paid at least 149 million rupees (US$1.8 million) in cash to the SaaS firm.

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Founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar, Algorhythm Tech is specialized in designing end-to-end solutions in the supply chain using AI technology. Leveraging its proprietary Rhythm 3.0 platform, the company delivers comprehensive, intelligent products to clients across various sectors including pharmaceuticals, telecom and consumer goods (FMCG). Following the completion of the acquisition, Algorhythm will continue to operate as a subsidiary of Delhivery Limited. 

“Algorhythm Tech’s Supply Chain Management (SCM) software products will enhance our Supply Chain Solutions offering with value added services and also drive cost optimization in service delivery," said Sandeep Kumar Barasia, Chief Business officer of Delhivery. “These SCM products are increasingly becoming vital for supply chain planning and optimization and our clients will have the option of availing the benefits of these as part of our Integrated Solutions Platform."

Source: India’s Delhivery to acquire enterprise supply chain SaaS firm

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