Capt Dhruv Sawhney, Co-Founder & CEO, Shipskart has been an integral part of the maritime industry for over 14 years, commencing his career as a cadet with Gearbulk and later sailing on oil tankers. In 2011, he transitioned to the offshore industry, where he worked with Bourbon Offshore until 2017.
His extensive experience in the field has been instrumental in the growth of Shipskart, as he has first-hand knowledge of the problems related to purchasing at the ground level. As the person responsible for the company’s business development, Dhruv’s expertise has been invaluable.
He believes that running a start-up is a continuous learning experience, and one of the key takeaways for him is that “Perseverance & hard work beat talent any day.” He emphasizes the importance of putting in the effort to do the mundane tasks day in and day out, as this ultimately leads to success.
Dhruv also acknowledges that there comes a point in a founder’s journey where it is essential to surround themselves with people who are smarter and more capable than themselves. He recognizes that being the founder does not necessarily mean that one has all the answers, and it is crucial to empower team members to take ownership and drive the company forward.
Furthermore, Dhruv stresses the importance of keeping the team happy and motivated, as this is critical to achieving the company’s vision.
In conversation with Miss Delphine Estibeiro of Marex Media, Dhruv delved into the origins of Shipskart, shedding light on the company’s pioneering mission to harness innovation and revolutionize the supply chain, while also revealing the pivotal strategies that have propelled the company’s remarkable success.
Birth of a Revolutionary Idea…
As I reflect on my career, I recall the numerous challenges I faced with procurement at the ground level. The process was often cumbersome, with requisitions being made on outdated Excel sheets or antiquated ERP software. Through discussions with friends working in purchasing departments, I gained a deeper understanding of the obstacles they encountered.
It became clear that the industry was on the cusp of digitalization, and I saw an opportunity to create something ground-breaking. This sparked the idea to launch Shipskart, a platform that would revolutionize the maritime procurement landscape. By leveraging digitalization, I aimed to streamline the procurement process, making it more efficient, transparent, and cost-effective. The vision was to create a platform that would transform the way maritime companies sourced and procured goods, and I was determined to turn this vision into a reality.
A Friendship Forged in Innovation…
My journey with Vivek began in 2003, when we met as pre-sea batch-mates at the prestigious ARI in Delhi. Our friendship blossomed, and we remained close over the years. I also had the pleasure of knowing Sunny for about 20 years, who brought a unique perspective to the table with his background in law and finance. Vivek and I had the opportunity to work together at Bourbon Offshore, where we witnessed first-hand the vast potential of the maritime industry.
However, we were struck by the traditional methods that still prevailed in the sector. This sparked an idea – what if we could create a platform that would revolutionize maritime procurement and logistics, much like Amazon had done for e-commerce?
Our vision was to build a fully digital, streamlined platform that would connect vessel operators, suppliers, and other industry players, making the entire process efficient, transparent, and user-friendly. With our complementary skills and shared passion for innovation, we decided to turn this idea into a reality. And so, Shipskart was born – a testament to the power of friendship and collaboration in driving innovation and modernizing the maritime logistics industry.
Transforming Logistics with Innovation…
Shipskart is revolutionizing the logistics landscape with its cutting-edge, digital-first platform that boasts a range of innovative features, setting it apart from traditional providers.
- We provide a comprehensive digital catalogue of over 10,000 products, complete with brand images, technical data sheets, and live pricing from over 800 vendors worldwide
- Unlike traditional logistics systems, Shipskart uses AI-powered predictive pricing, helping users anticipate future costs and make smarter decisions
- The platform also offers real-time tracking of orders, allowing users to monitor deliveries just like tracking an Uber ride. With owned warehouses and a global vendor network, we ensure timely deliveries
- Customizable dashboards provide detailed insights into spending patterns, vendor performance, and budget management, helping businesses optimize costs and resources
- With integrated access to delivery notes and invoices in one hub, Shipskart simplifies administrative processes
By combining real-time data, advanced AI, and seamless logistics management, Shipskart delivers a superior, more efficient alternative to traditional logistics providers. A key differentiator is that Shipskart digitalizes 100% of end-to-end procurement, whereas traditional ERP companies only digitalize around 60%, making it a game-changer in the industry.
Shipskart’s Solution for Maritime Supply Chain Efficiency…
The maritime industry is facing a significant challenge in adopting technology to enhance process efficiency, communication, monitoring, and data analysis, both on vessels and on shore.
Unfortunately, the sector is approximately 30 years behind the technology curve, with many outdated practices still prevalent. For instance, bills of lading are still paper-based, and purchases of spares and stores are often made through phone calls and emails.
Moreover, the aggregation and utilization of operational and financial data across enterprises are limited, leading to suboptimal decision-making. Shipskart is addressing this issue by revolutionizing the supply chain and procurement process in the industry.
Currently, most maritime and offshore companies rely on manual, antiquated methods for managing requisitions, seeking vendors, placing orders, and arranging deliveries of essential items such as spares, stores, consumables, and provisions. These items account for a significant 30-40% of total operating costs, yet few companies invest in making the system and process efficient, trackable, and predictable.
To tackle this problem, Shipskart has developed a robust platform that can be seamlessly integrated with any ERP software. This allows vessels and companies to continue using their existing ERP software on the front end, while Shipskart’s features are integrated at the backend, providing 100% digitalization. Some of the key features of the platform include:
- Digital Online Catalogue – covers global provisions and stores, including brand names and pack sizes for each product
- Live Pricing
- Predicted Pricing using AI
- 800+ Vendors registered with online KYC across the globe
- Track Your Truck – enables users to track real-time deliveries, just like tracking an Uber
- Real-time Spending Pattern Data and MIS Reports
Leveraging Innovation to Drive Logistics Excellence…
Technology in logistics is evolving rapidly, with trends like AI and machine learning, automation, real-time data analytics, and IoT reshaping the industry. These innovations enhance efficiency, streamline operations, and enable smarter decision-making through predictive pricing, task optimization, and real-time shipment tracking. As automation improves the supply chain, data-driven insights are helping businesses adapt faster to changing market demands.
Shipskart is already taking the first-mover advantage by partnering with prominent clients and ERP service providers, positioning itself as a leader in the logistics space. Additionally, the trust and support of key investors from the maritime sector, including TMV, Betaron, Wami, and Motion Ventures, further solidify Shipskart’s position as a forward-thinking logistics provider.
Key Strategies for Success…
Embarking on a logistics venture can be a highly rewarding endeavour, but it also presents a unique set of challenges that must be navigated. To stay ahead of the curve, it is essential to embrace technological advancements, as the logistics industry is evolving at a rapid pace.
By leveraging innovations in technology, businesses can significantly improve efficiency, enhance customer experience, and gain a competitive edge. A deep understanding of the market is also crucial, whether your focus is on shipping, warehousing, or supply chain management, as this will enable you to tailor your services to address specific industry pain points. Building robust partnerships with vendors, carriers, and customers is vital, as logistics is an inherently network-driven business.
Effective cash flow management is also critical, given the high operational costs associated with logistics, so it is essential to manage finances carefully.
A prudent approach is to start small, deliver exceptional service, and scale gradually to avoid overextending. Prioritizing customer service is paramount, as offering reliable and efficient services, and being receptive to customer feedback, can help differentiate your business in a crowded market.
Furthermore, resilience is essential, as setbacks are inevitable in the logistics industry. By focusing on technology, customer satisfaction, and operational efficiency, businesses can thrive in the competitive logistics landscape and achieve long-term success.
Shipskart’s Journey to Excellence…
Over the past half-decade, Shipskart has come a long way, solidifying its position as a leader in the maritime procurement division. From the outset, we’ve earned the trust of prominent customers such as Maersk Lines, MSC, and MOL, whose partnerships have been pivotal to our growth. Our platform has continuously evolved with advanced features and tools, transforming the way businesses manage and optimize their supplies. Additionally, we’ve secured significant funding from top-tier investors, fuelling our innovation and further expansion.
Our achievements have been recognized with prestigious awards, including Best Startup of the Year and Rising Star accolades from respected industry bodies like PortXL, Startup India, Dubai Chambers, Thetius, and ShipTek. Shipskart has also experienced year-on-year 2x GMV growth, expanding our presence through warehouses across India, allowing us to scale our operations and serve an increasing client base more efficiently.
Our team has grown from a humble manpower of 10 to over 100 employees, fostering a strong culture of collaboration and innovation. With a focus on employee welfare, we have created a supportive, family-like environment, united by a common goal—delivering cutting-edge logistics solutions that drive value for our customers.
Shipskart’s Vision for Maritime Procurement…
At Shipskart, our vision is ambitious and clear: to become the preferred procurement platform for the maritime industry, where every ship and every shipowner relies on our platform and its innovative features. We aim to provide our users with an unparalleled experience, similar to that of Amazon, and remain true to our tagline, “Clicked at Sea – Delivered at Shore.”
To achieve this, we are prioritizing integration with the top ERP service providers, which will give us access to 10,000+ vessels. Our maritime catalogue is one of the keys to Shipskart’s success, and a lot of work is being done in this regard. To list 20,000 products globally is no small task, but we are progressively working towards it.
The year 2025 is expected to be a watershed moment for us, as we plan to make substantial strides towards realizing our vision and becoming the company we have always aspired to be.
With a strong foundation in place, we are poised to take the maritime procurement industry by storm and establish ourselves as the go-to platform for shipowners and vessels worldwide.
Marex Media