New startup ‘Truckmandi’ targets transport sector

New Delhi, July 30 (IANS) A capital-based startup is making efforts to bring the still offline and unorganised transport sector online., which is a form of an e-commerce service, is an online truck booking solution, which simplifies the task of handling bulk transport with the help of technology. The service is available both through a website and an android app.

“Truckmandi came into being as we saw a huge opportunity in a sector which is still in disarray. The transport sector accounts for 13 percent of India’s GDP and the market size is roughly around $130 billion,” Ankit Singh, co-founder of Truckmandi, said.

“The reliability rate is also low and technology adoption in the country is also high at this point, so we decided to open this supply demand based logistics service,” he added.

The company, which conducts 20 transactions a day with an average ticket price of Rs.12,000, is targeting 1,500 transactions by the end of the year.

Truckmandi, which also provides insurance for the goods being transported, has two models for business – the marketplace and arranging trucks directly. In the marketplace model, companies can choose the transport service that are listed in the site or app.

Truckmandi, which has a presence in Delhi NCR, Uttarakhand, Punjab and Haryana, has a average yearly turnover of Rs.12 crore.

The company is looking for raising funds to expand operations.

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