5 startups using innovative technology in logistic sector
Several new-age companies have entered the logistics industry to replace traditional methods with efficient solutions using technology.
According to Associated Chambers of Commerce (ASSOCHAM), the global logistics market is currently estimated to be around USD 3.5 trillion. India's logistics and supply chain sector has seen two big moves by the government - Goods and Services Tax (GST) implementation and giving infrastructure status to the sector.
The steps are aimed at organising the unstructured logistics sector and open doors for more investment and new initiatives by the Government across different states to assess the logistics performance of Indian States and Union Territories. Gujarat, Punjab and Andhra Pradesh occupied the top three positions, while Assam, Bihar and West Bengal lower bottom of the index.
Considering the booming potential of the industry, several new-age companies have entered the logistics industry to replace traditional methods with efficient solutions using technology. Here’s a list of some of the many startups that aim to transform the sector.
Shiprocket: Incepted in 2016, Shiprocket is a data-driven logistics aggregation platform which drives efficiency in India’s eCommerce logistics by connecting online retailers with logistics providers along the supply chain to enable end-to-end solutions. The company envisions collaboratively connecting online retailers, logistics companies and consumers in a seamless platform to create delightful shipping experiences for everyone. The company’s core goal is to power the largest number of shipping transactions in the direct to consumer ecommerce space in India.
Trukky: Leveraging the power of technology, the web and app-based online logistics platform offers a modernistic and simplified way of truck hiring and tracking at fingertips. With rate index, live pricing and a three-step booking feature, Trukky aims to bring in more ease and transparency in the trucking ecosystem.
Rivigo: The company provides high-quality services across major industry verticals such as e-commerce, FMCG, auto, pharma and the cold-chain space. With a large network of company-owned trucks, Rivigo offers line-haul solutions and claims to lower transit time by 50-70 per cent compared to typical operators.
GoBOLT: Using data analytics and IoT, the Mumbai-based startup provides smart logistics solutions like right vehicle selection, route/delivery planning, real-time tracking, reduced transit time and reliable documentation and control, among others.
FreightBro: Leveraging the power of technology, Chennai-based FreightBro enables freight forwarders to make data-driven decisions, predict changes in the market and provide better value to shippers.