Trucks are the backbone of the Indian logistics industry, but they also contribute significantly to air pollution in the environment. As businesses are progressing towards pre-pandemic levels, it is now more important than ever to keep track of carbon emissions.
Trucknetic, India's first digital platform to book all kinds of trucks and provides an Uber-like service for trucks, is all set to introduce Electric vehicles as a service to its customers.
The Delhi-based startup strongly believes that India can move towards carbon neutrality and can also meet its target before time. Electric trucks, if implemented and accepted well, have the potential to be the future of the Indian logistics industry, resulting in better efficiency, more cost-effectiveness, and much lesser carbon emissions. It also becomes imperative for the government to devise effective policies for better implementation and support the firms and startups that are bringing innovation to the industry.
Founded in 2019, Trucknetic aims to eradicate the inefficiencies in the trucking industry and reduce the cost of logistics in India which stands at 14-18 percent of the GDP as an expense compared to 8-10 percent in the developed nations.
The idea of Trucknetic emerged from the need to bring cutting-edge technology and improve efficiency to India’s $380 billion logistics industry of which road transport accounts for about $200 billion, where only 5% of the market is organized.
Trucknetic is also one of the few hyper-scaling startups that wants to capture the maximum market through solutions like never before in India. The vision is to be India's answer to the leading global market giants including Uber for Freight, Convoy, and Full Truck Alliance.
"The trucking sector is evolving, with key developments including improved communication, more demand and supply, and greater use of new technologies. The road logistics market in India is projected to expand at a compounded annual growth rate of 8% over the next three years, reaching $330 billion by 2025. However, given the pollution generated by trucks on highways, and trucks being a big part of the Indian logistics industry, it is time to re-think how we can make trucking more environmentally friendly," said Arham Pratap Jain, Founder & CTO, Trucknetic.
"Electric trucks are unquestionably the future of the trucking and logistics industry as they have numerous advantages over their counterparts and potential applications.
However, we cannot ignore their limitations and some of the best automakers are working hard to eradicate these for better acceptability." he added.
Trucknetic is also one of the chosen startups in the Microsoft AI innovation-manufacturing and logistics cohort, in which Microsoft is helping Truckentic to build a proof of concept for solving the return load problem and demand forecasting using Artificial Intelligence (AI) and Machine Learning (ML).
Trucknetic will reach close to 1 million downloads on its Trucknetic Shipper app and close to 5 lakh+ downloads on the Trucknetic Carrier app by March 2023. It envisages having close to 2 million trucks in its network out of 12 million trucks and will have over 2 million+ downloads on the Trucknetic Carrier app and 500,000+ downloads on the Trucknetic Shipper app.
The company is projected to close over 20 crores of revenue by FY22. Trucknetic is projected to do revenue of close to 100 crores in FY23 and 300 crores in FY24.
Trucknetic aims to become the one-stop solution for all kinds of Trucking needs and strongly believes to become the biggest truck provider company in India by 2025 where it can provide any kind of truck, for any commodity, for any location in less than 30 minutes.
This is a sponsored article.
