Digitize transactions startup, Automaxis has revolutionized international transactions. Nurtured by T-Hub, Automaxis officially announces groundbreaking advancements with its flagship product, FDP Connect™ which is known streamline cross-border trade which often encounters inefficiencies and bottlenecks, hindering seamless transactions.
With the new rollout named FDP Connect, the innovative startup is poised to streamline, automate, and digitize transactions related to Freight, Documents & Payments.
The FDP Connect is touted to be a cutting-edge platform that tackles longstanding challenges in international trade including digitization of transactions. The budding visionary company, claims to fundamentally transform how businesses navigate the intricacies of global commerce.
Automaxis emerges as a beacon of efficiency and reliability, leveraging blockchain technology and artificial intelligence to bridge the gap between stakeholders operating in silos. By fostering interoperability and seamless collaboration within the supply chain, Automaxis sets the stage for enhanced efficiency and reduced paperwork in international trade.
Automaxis with its new FDP Connect backs and further fosters Indian Government’s initiatives under the Digital India initiative and Ease of Doing Business.
Automaxis said in its official release that the company has a holistic approach. It aims to offer a comprehensive suite of tools to guide users through every stage of the international trade process.
Notably, the recent commitment by the Digital Container Shipping Association (DCSA) to transition to 100% electronic Bills of Lading by 2030 underscores the urgency for digital transformation in the industry.
Automaxis Integration With TradeTrust, MLETR compliant framework by IMDA Singapore
A notable achievement for Automaxis is its integration with TradeTrust, MLETR compliant framework by IMDA Singapore.
This partnership is said to facilitate the digitization of crucial trade documents, including Bills of Lading, marking a significant milestone towards truly digital trade facilitation.
The recent live paperless transaction between India and Singapore, piloted using the TradeTrust platform, underscores the efficacy and relevance of Automaxis’s solution in today’s digital economy.
Automaxis is transforming the handling of Bills of Lading by digitizing this critical document. Traditionally paper-based and couriered, the original Bill of Lading holds immense value as a negotiable instrument representing the entire worth of traded goods. The startup helps securely transfer ownership using blockchain technology, collaborating with TradeTrust for legal interoperability.
Pratik, Chief Operating Officer of Automaxis, remarks, “We are providing a one-stop-shop for all the digital needs of the Exporting and Importing companies in India. Our smart tool navigates users through the total process of international trade, ensuring efficiency and compliance. Looking ahead, Automaxis projects robust revenue growth for the upcoming fiscal year, driven by growing order books and an expanding customer base.”
T-Hub’s Role in Nurturing Automaxis
Supported by India’s leading startup incubator T-Hub, Automaxis gained access to invaluable resources such as industry expertise, investor connections, and potential clientele. T-Hub’s mentorship and expansive network provided validation and avenues for crucial market expansion, propelling the startup as a trailblazer in the cross-border trade sector. This collaborative backing facilitated recognition and collaboration opportunities with industry giants like Maruti Suzuki India Ltd. and Swarovski, further solidifying its position in the domain.
MSR, CEO of T-HUB, said, “Automaxis exemplifies the spirit of innovation and resilience that we champion at T-Hub. Their commitment to transforming cross-border trade aligns perfectly with our mission to nurture disruptive startups with global potential. We are excited to see Automaxis’s continued success as they redefine industry standards and drive positive change in the international trade ecosystem.”
With over 5500 exporters already onboarded, the budding company continues to make waves in key sectors such as Agri Exports, recycled paper exports, marine exports, engineering exports, and gems and jewelry. By collaborating with agencies involved in the international supply chain, it aims to further expand its reach and impact across diverse industry verticals reveals the official release.
The ambitious startup aims to strengthen its reputation as a trusted provider of cross-border trade solutions. Looking ahead, the startup nurtured by T-Hub to enhance and expand its services to meet the evolving needs of its customers.
It will also focus on advanced automation, compliance management, integration with emerging trade platforms and standards, and expansion into new geographies and industry verticals added the release.
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