A startup established in 2020, RapidLoops Logistics Private Limited aims to enhance and provide large companies that transport consignments in vast volumes with highly structured trucking service. In a highly fragmented and unorganized market for supplying vehicles, the company addresses the key issues of logistics business by bridging the information asymmetry and disintermediation. Elucidating an inception story of the company, Rajesh K, Co-Founder, RapidLoops Logistics says, "One of our founders is a second-generation logistics business owner who has an excellent vision for this sector, and the other one is technically savvy and never gets satisfied with mediocrity.
We kept dis-cussing many times about the critical problems and gaps in the sector. The obvious things that came out are the fragmentation, lack of visibility and lack of technology use, especially in the truck supply side of the bulk cargo sector. So our business vision is not just to build a digital freight network to bridge the gap between Shippers and Truckers, but is to raise the whole Bulk
Augmenting the Market
RapidLoops firmly believes that by only assisting one side of the market, one cannot enhance a platform-style business. So, the company is trying to ensure that by assisting and helping the truck owners, the supply side is organized and made reliable. The main areas RapidLoops concentrate on are that they get paid on time once they finish their job without having a single follow-up. And, they are making sure to get higher utilization efficiency with onward and return trips so that they are not worried about where to queue up and find the next load for their truck after every single trip.
Arun A, Co-Founder
RapidLoops is a solid, efficient and trustworthy partner that can be relied on by shippers and truckers without giving them a second thought. The RapidShip, in itself, is a solution that allows every organization to get their available load on it so that the trucks are allocated to pick them up. In this solution, the ship-per will sit and watch which truck owned by whom picks up which item at what time with a click of a button. The shippers are keen to delve deeply to where precisely their allocated empty trucks are coming and where precisely the load-carrying trucks are so that their loading and unloading points can be handled efficiently.
Further, Rajesh K adds, "It is beyond our expectations and we have now proved ourselves and convinced that we are solving the much-needed problems for the sector which they were waiting for someone to do. We have quickly acquired 5 large clients within 3 months of operations from Shipper side, in which all of them are known majors in their industry. We have moved 60,000 metric tons of cargo with 2,000 trips in 3 months. We have close to 100 satisfied Truckers, as a startup business, we will focus on faster growth, but we shall not compromise on profitability."
The company has developed certain plans to focus on that can help them grow their business and it is bringing the digital balance in the ecosystem as it is apparent current lop-sided technology ecosystem needs to be fixed to raise to the next level. Seamless end to end digitization including communication between stakeholders, elimination of all paperwork, getting all trucking partners fully IoT enabled, partner with all the essential service providers of the Fleet management industry who want to join with RapidLoops in this mission of raising the level up.