Zero to One: LogiNext's rollercoaster ride of hypergrowth
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. Key takeaways1:35 - What is LogiNext2:45 - Dhruvil’s Background9:30 - How consulting experience helped in SaaS? 13:38 - Advantages of coming from a business family21:27 - Raising funds as a new entrepreneur23:20 - 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 months42:32 - GTM Plan and Ideal ICPs46:28 - Acquisition Model47:06 - Marketing and Sales Spend49:07 - Becoming an investor52:29 - SaaS Founders that Dhruvil looks up to53:48 - 3 exciting startup investments Dhruvil has made54:09 - Thoughts on work-life balance55:23 - Advice for upcoming SaaS Entrepreneurs Key mentions Microsoft VentureReliance GenNextIndian Angel NetworkVijay Shekhar Sharma : Twitter | LinkedInSanjay Mehta : Twitter | LinkedInHappy Listening! 🎧