Samara Capital, Xponentia acquire logistics startup Spoton for ₹550 crores

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

A consortium of investors led by the Mumbai-based investment firm Samara Capital and Xponentia Fund Partners has acquired Bengaluru-based express logistics startup Spoton for ₹550 crores in cash.

With the acquisition, the private equity firm India Equity Partners has completely exited the startup.

This acquisition is speculated to be a part of Samara’s plan to ally with Amazon and Goldman Sachs to try to acquire More, India’s fourth-largest supermarket operator. The acquisition of Spoton will help Samara create a retail ecosystem to support its plans.

Founded in 2011, Spoton Logistics provides logistics solutions to industries such as hi-tech, automotive, engineering, pharmaceutical, electronics and electrical, and lifestyle and retail.

The startup has around 4,000 clients including Reliance, Bosch, along with e-commerce giants like Flipkart and Amazon.

Talking about the investment, Abhik Mitra, MD and CEO, Spoton Logistics, said, “We are delighted to have the new investor group on board in the next phase of our journey towards excellence and leadership. Their support for strong management teams to run the company, whilst playing a key role as a value-added partner focused on business strategy, internal controls, governance, financial management, and identifying and supporting growth opportunities, through business alliances and or M&A, will bring rich rewards to all.”

The logistics startup is planning to add air express cargo by March/April next year, along with tapping into the potential opportunity in the 3PL space. It is expecting the new air express cargo vertical to boost its annualised revenues from the current ₹600 crores to ₹1,500 crores in the coming five years.

Samara Capital is a Mumbai-based private equity firm founded by Gautam Gode and Sumeet Narang in 2006. The firm is primarily focused on emerging Indian startups in the domains including fintech, infrastructure, pharmaceuticals, healthcare, consumer products and IT.

The firm has already raised two funds worth about $700 million, since its launch. It is also planning to close its third fund worth $550 million by the end of this year.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Apple topped in the premium range smartphone category in the Q3

iPhones are known for their hardware and software quality. The very reason why people prefer Apple. This was the...

Shiv Sena files petition in Court over imposition of President’s rule; says BS Koshyari worked in hurry

After the hurried imposition of President's rule on Tuesday in Maharashtra state, Shiv Sena leaders moved to the Supreme Court seeking an urgent hearing...

NCP and Congress address joint press conference; Senior leaders talk of bringing Shiv Sena on board after finalizing talks

Amid the heavy political tensions in the Maharashtra state, NCP leader Sharad Pawar and Congress leader Ahmed Patel addressed a press conference in the...

Congress terms imposition of President’s rule as “mockery of Constitutional Democracy”; questions BS Koshyari for not giving Congress chance to form government

Speaking on the recently imposed President's rule, Congress spokesperson Randeep Singh Surjewala expressed the party's disappointment with the governor's move. He said that Bhagat...

Akshay Kumar and Nupur Sanon’s Filhall wins hearts, 55 million and counting

Akshay Kumar is known for setting records in Bollywood. Whether it be a scipt, concept or numbers, this Khiladi has aced it all. The...
- Advertisement -

More Articles Like This