Bharath Narayanz, Co-Founder & CEO, Ram Narayan, Co-Founder & COO
Gautham S V, Co-Founder & CTO Vishal Kulkarni, Director - Marketing
Zooming-in on the bigger picture, the secondary logistics comes with a lot of challenges. And maintaining an uninterrupted logistics is a whole new game altogether. On-time delivery, limited tech adaptability and stringent govt. regulations being the most common roadblocks here, the secondary logistics consisting of LCV’s (Light commercial vehicles)/small trucks is definitely an easy way out to continue the last mile delivery part of the logistics seamlessly. This again is not as simple as it may seem. Because, nearly 80 percent of the LCV’s consists of driver cum owners and the operations take place at their convenience, time and price. Henceforth, the demand and supply are completely fragmented making this sector, totally an unorganized one.
Reverse engineering the whole system, Bangalore-based LOTrucks have successfully built an on-demand marketplace logistics model from scratch, which is said to revolutionize the way logistics happen in India. “The idea was to aggregate themini trucks for last mile delivery part of logistics,” speaks Bharath Narayan, Co-Founder &CEO, LOTrucks. According to Bharath, the vehicle that changed the dimension of this last mile delivery in India was the entry of TATA Ace vehicles and other mini trucks. But there was no standardized pricing, Punctuality and other factors in services. In fact, there was no platform for customers/businesses to book a truck.
Bringing the change, LOTrucks offers its cutting-edge technology platform to B2B & B2C clients where a customer can easily book a truck through the mobile App, website and can even call the customer care. In terms of market demand, the majority of LOTrucks clients include SMEs and MSMEs where they require the service on a regular basis. On the B2C side, LOTrucks customers include people shifting houses, or bachelors shifting rooms, and people selling/buying articles through various channels among others.“Previously, it was kind of hectic job, as people had to search for a vehicle, negotiate price, and what not. Once, we came into the picture, we eliminated all the hassles by helping our customers easily find a truck with standard fares based on the distance and instant trip confirmation with a click.They then were all set! And, in no time, the trucks were at your service. In addition to this, we have given our customers flexible payment options and always provide a helping hand for loading and unloading the goods,” mentions Ram Narayan, Co-Founder & COO, LOTrucks.
Beyond the LOT –Technology Disrupting Transportation & Logistics Operation
Heavily investing in technology,
Heavily investing in technology, LOTrucks, in a short span of three years, has evolved into becoming a fully integrated logistics-technology company
Adding to this, Ram mentions, “For instance, today, over all size in Bangalore alone, say, consists above 50,000 active LCV vehicles. So, our intention was to reduce the idle time of vehicles. And, we just did that!”
Successful in optimizing the supply and demand side of logistics for the last mile delivery part, LOTrucks has carved a niche in the industry. More than any thing, they constantly engage with the driver and customers, where by the drivers earn steady income and the customers are happy with the quick service delivery and response time. Vishal Kulkarni, Director – Marketing, LOTrucks, speaks “We do a lot of data analytics, and share the insights with our drivers. At present, however, we have moved from a proactive analysis to predictive based analytics, where we can predict demand and channelize supply based on the data points generated.”
Now the drivers now know the exact location, where they get more trips. And, LOTrucks ensures to aggregate it in the most effective way possible. Most important of all, transparency is maintained throughout the system, and all the drivers that are attached to LOTrucks are thoroughly background checked. Hence, guaranteeing the element of safety and security of goods transported. And, for the clients, LOTrucks provides complete convenience as there is no room for any bargains and customers are charged based on distance& time. Furthermore, taking massive advantage of their platform, today, their application is directly API integrated onto their client’s platform. Few of their e-com clients include NoBroker, Quickr amongst others.
The Journey So Far...
Founded in January 2015, LOTrucks has come a long way from where it all started. The journey of the company has been exuberating. From educating the drivers to use the app, during the initial days to successful in transforming their life and providing them a steady income, LOTrucks has built a perfect model to sustain more than 15,000 trips/day. This is on the supply side. On the demand side, in the span of three years, the company has registered more than 25,000 SMEs and, the B2C market being a niche market, the demand is also high and is increasing each day. Overall, LOTtrucks is enriching the customer experience and ensuring the last mile delivery reaches the distance.
“When we started this venture, we used to get a lot of calls from customers asking if this service really existed. But, now the whole scenario has changed,” mentions Ram.
The Growth Way Forward
Growing 200 percent YoY, the company is at an expansion phase at the moment. Currently present in Bangalore, Chennai and Hyderabad, LOTrucks has closed seed funding from various investors. At present, the company is looking to raise a Series-A funding, where they are estimated to raise 5 million to further expand across other metro cities including Delhi NCR, Mumbai & Pune.
From 1st April 2018 onwards LOTrucks has launched a new with in city parcel service called the LOTexCity. “So, anybody who has parcels less than truck load, we are providing them the same day pickup and drop service,” mentions Ram.
Further adding to this, Bharath concludes “In future once we establish ourselves as a reliable brand in the last mile delivery. We will definitely then enter the primary logistics segment, that is, the US$ 200 billion market and become an end to end logistics company.”
Bharath Narayan, Co-Founder & CEO, LOTrucks
As a second generation entrepreneur, Bharath has a vast experience working with various businesses across segments. And, prior venturing into LOTrucks, he was the Co-Founder of an eCommerce start-up called Dynashopping.com. It was this company, where he witnessed a huge gap in the last mile delivery part, which further instigated him to start a company in the logistics space. At LOTrucks, he takes care of end-to-end business operations. And, often with team, he is known to be the strict, straight forward boss, who runs the entire show, as he believes that his company 'LOTrucks' is here to create a dent in the market.
Ram Narayan, Co-Founder & COO, LOTrucks
Ram is also a second generation entrepreneur, and prior joining LOTrucks, he was working as a business analyst at NetApp India. At LOTrucks, he handles the entire operations. Being a people’s person, Ram ensures the entire operation runs smoothly without any interruption. His analyzing skills are next level. In times of any hiccups, his analytical approach comes to the rescue, as he comes up with a quick-fix solution out of thin air.
GauthamS V, Co-Founder & CTO, LOTrucks
Gautham is the brain behind the technological aesthetics at LOTrucks. He handles the entire tech and product development functions. He is the most chilled out member and a go-to person in the office. Before venturing into LOTrucks, he has worked in Mindtree, and TechTreeIT Systems among others.
Vishal Kulkarni, Director - Marketing, LOTrucks
Vishal joined LOTrucks in 2017.As a young promoter, he is known for his great business churning ideas. Some of his ideas for brand campaigns have gone viral across numerous platforms, and he is known for his crazy, out-of-the-box thinking. At LOTrucks, he ensures to figure out cost-effective methods to promote and market the brand to a whole new level, both online as well as the offline.
On a typical day at LOTrucks, the entire team, consisting of Tech, Ops, Marketing and Finance team, all work seamlessly in unison, where they work towards achieving the common goal to deliver a great the experience to the customer, where they are living the common motto – Make it Great! Initially, started with just three members, today, the team has grown to 40+ members of engineers, marketing & operations team.