Logistics industry is growing very fast and is expected to treble to USD 3 billion over the next few years from now.
Mumbai: Gurgaon-based startup Dot, which provides green logistics services for the first and last mile connectivity, is eyeing over Rs 360 crore revenue by 2020 as it plans to expand its operations to 30 cities.
The company, which began in 2015, is an arm of Green Valley Energy Ventures, which is largely into energy advisory, logistics and technical solutions for supply chain management. Green Valley Energy Ventures is currently operating a 1,320-mw thermal plant in Visakhapatinam in Andhra.
"We are catering to the logistics industry that is growing very fast and is expected to treble to USD 3 billion over the next few years from now. Our aim is to provide end-to-end solutions in the entire delivery chain," Dot managing director Vineet Mehra told PTI.
The company began its journey with e-bikes first and then e-rickshaws ferrying people to their workplaces.
"We have now expanded our scope to include food, e-commerce, merchandise apart from also exploring other sectors like cold storage, pharma and waste management logistics," Mehra said, adding they are targeting a revenue of over Rs 360 crore next fiscal.
Dot, which works on a plug and play model and is sector agnostic, has clients like Amazon, Blue Dart, DHL, Aramex, Grofers, Natures Basket, Lenskart etc in the e-commerce sector and McDonalds, FreshMenu, Burger King, KFC, Pita-Pit, Faasos, Bercos among others in the food-tech sector.
"On the technology front, we are developing scalable products using machine learning and artificial intelligence. Our growth plans are very futuristic which will include introduction of electric buses in the major metros. We are currently present in 22 cities and we want to take it to 30 soon," he said.
The company has so far invested about USD 2.5 million, and has till now been a boot-strapped company, he said, adding now they are talking to venture capitalists for growth funds.