1508 With $1.2m in MRR, They're Making Truck Fleets More Efficient

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 10 September 2019

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dhruvil Sanghvi has played a pivotal role in revolutionizing logistics with the use of data sciences and machine learning. He has been felicitated by Forbes as one of the top 30 under 30 achievers, 2017. He was also recognized as Achiever of the Year 2017 by Business World in its 40 under 40 List. After graduating from Carnegie Mellon University, Pittsburgh, USA and actively advising some of the Fortune 500 companies on technology and data analytics, Dhruvil, along with Manisha Raisinghani, started LogiNext in 2014. Within 3 years, LogiNext has gained authority in the space of Logistics and field service optimization, has on-boarded prominent investors like Paytm and Alibaba. He has been a regular and sought-after speaker at industry conferences and panel discussion across the globe. Dhruvil is keen on contributing as a thought leader and mentor to the booming ecosystem of startups. With his immense experience and insights in business growth and product success, Dhruvil has helped multiple entrepreneurs realize their dream, guiding them over hurdles and directing to early product-market fit. Dhruvil also serves as an early stage investor and has initiated incubation for some ambitious startups.

Transcript

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0:00.0	Lajinex launched in 2014 today doing $1.2 million per month. That's up from $400,000 per month just about a year ago.
0:06.9	They do this by serving 15 companies that manage fleets of trucks. On average, these fleets are about 500 trucks.
0:14.1	They charge $50 per truck or per asset. So that's about $25,000 per customer per month.
0:19.3	They've raised $10.5 bucks to scale to where they're at
0:21.8	today. Economics are healthy, less than 5% gross churn annually, 108% net revenue expansion annually.
0:28.7	They've got a team of about 100 people based between Mumbai, California, and other
0:32.4	remote locations as they look to keep scaling two or three X year over year.
0:36.7	Hello, everyone.
0:37.6	My guest today is Drewville Sangavi.
0:39.7	He's played a pivotal role in revolutionizing logistics with the use of data science
0:43.5	and machine learning.
0:44.7	He's been fosterated by Forbes as one of the top 30 under 30 achievers in 2017.
0:50.1	He's also recognized as achiever of the year in 2017, my business world as he continues to develop his product, Logi Next.
0:57.2	All right, Drewville, are you ready to take us to the top?
0:59.6	Absolutely. Thanks for having me, Nathan.
1:01.0	You bet. Tell us about the company. What's Loginex do and how do you make money? What's your revenue model?
1:05.8	Well, we are a SaaS company. We are focusing on optimizing movements for enterprises. So take it as similar to how
1:13.1	Google Maps optimizes your movements on a daily basis when you go from your work to your home,
1:18.2	to your friend's place and so on. We do a similar thing at scale for large enterprises. We charge them
1:24.1	on a monthly basis for the number of licensed users.
1:28.3	Okay. And give me a customer example, just so I understand this clearly, is you're helping them actually move office locations?
1:34.3	No. So when we say we had them move their, you know, their assets, what we mean is that we have logistics and supply chain companies, move their trucking, their shipments, and so on.
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