After being in the business for over five years, online freight transport aggregator TruckSuvidha has received funding support for further expansion. And the support hasn’t typically come from PE or VC quarters but rather from a public sector enterprise – Gas Authority of India (GAIL).
“ They had given us a milestone based project which we successfully executed. The funding happened after that,” Ishu Bansal, Co-Founder of the platform told supplychainlog in an exclusive conversation. He, however, refused to divulge the funding size even as he asserted that the business has reached to a breakeven stage on its own. “ We have a sizeable scale now with 36,000 registered transporters and over 3,00,000 vehicles on our platform,” he said.
With fresh funding support, TruckSuvidha now intends to further scale up the operations both in automation and in reaching out to new zones in the country. “ We are ready to introduce artificial intelligence empowered solutions to the industry. And we are targeting to strengthen our presence in southern and north-east parts of the country by opening new offices,” Bansal informed.
(Watch out this space for Ishu Bansal’s interview)