Road transportation accounts for about six per cent of the overall GDP of our country. In spite of this significant contribution, the sector remains highly unorganized with truck drivers often having to deal with health issues, insurance woes and financial crisis.
Accel Partners and Nandan Nilekani backed- 4TiGO, aims to bring various stakeholders of the logistics industry together using cloud-based technology. Using this common platform, it will enable various entities to exchange information, transact and manage their businesses.
At the launch of the company’s operations in Bengaluru on Wednesday, 4TiGO said that it has currently set up operations in six states of south India namely, Telengana, Karnataka, Tamil Nadu, Andhra Pradesh, Kerala and Goa.
Co-founder and CEO of 4TiGO Anjani Mandal told Entrepreneur Media that when one puts together the various constraints and challenges in the logistics space with technology, it presents a huge market opportunity, which is difficult to shy away from.
“The market size is going to be $300 million in few years of time and is fragmented and we understand that. It has payments systems, needs technology, innovation, understanding of business and it was a jig-saw puzzle that needed to be solved,” Mandal added.
4TiGo has partnered with the Federal Bank to implement a B2B electronic payment platform. The bank has also provided a special credit program to provide working capital to support network participants. The company also has Indian Oil Corporation as a strategic network partner.
Nandan Nilekani, who is the torch bearer of India’s Unique Identification Authority of India (UIDAI) program, said that with pervasive connectivity, affordable mobile technologies, efficiencies are now achievable at an industry-level by orchestrating a network of trust between various industry players. Nilekani, who has backed several startups, said he is keener in backing startups which are organizing the un-organized industry pockets in India.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more