Zero to One: LogiNext’s rollercoaster ride of hypergrowth
27 Oct 2022 • 57 minutes
Founder & CEO, LogiNext
Dhruvil Sanghvi is a tech-savvy engineer who began his career as a consultant before taking up the entrepreneurial journey in 2015. Today, he also invests in startups. Coming from a multi-generational business family, Dhruvil believes that launching and running a successful business is the best way to create a big impact on society and economy. His journey of kickstarting LogiNext with his own savings, raising 10 Million dollars in funding within a short span of 9 months after the seed round definitely has lessons for every SaaS founder.
LogiNext is a global technology and automation company with a focus on the transportation, home deliveries, omni-channel fulfillment, and B2B distribution market.
Founded in 2015, LogiNext can be rightly called one of the early entrants into the Indian SaaS space. LogiNext entered the market during a period when Amazon and several other startups were setting up the rapidly growing startup scene.
This episode will unravel the growth journey of LogiNext and how it went on to global brands like McDonald’s, Mahindra, PayTM, Myntra, Decathlon & Domino’s among many others as its clients. As a bonus, Dhruvil will also share the lessons he learned from the mistakes he made as a founder and how LogiNext managed to bounce back from them. The lessons helped them scale 150 clients across SEA, the Middle East, India, the US, Europe, and Latin America.
1:35 – What is LogiNext
2:45 – Dhruvil’s Background
9:30 – How consulting experience helped in SaaS?
13:38 – Advantages of coming from a business family
21:27 – Raising funds as a new entrepreneur
23:20 – How did he spend the first $100k on the company?
28:26 – What did it take to raise the first $500k?
30:05 – Going from $500k to $10 Million in funding within 9 months
42:32 – GTM Plan and Ideal ICPs
46:28 – Acquisition Model
47:06 – Marketing and Sales Spend
49:07 – Becoming an investor
52:29 – SaaS Founders that Dhruvil looks up to
53:48 – 3 exciting startup investments Dhruvil has made