Trucknetic aims to be the largest AI-based digital trucking platform in the country

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Trucknetic is an online logistics platform that empowers shippers and carriers to explore opportunities of doing business together. It offers an end-to-end logistics solution that combines a freight marketplace with company drivers and partnerships to provide services for drayage, over-the-road, and transloading.

The company provides a digital platform and mobile solution for the freight shipping industry. We connect shippers with a trusted network of carriers, streamlining the process of placing, tracking and paying for shipments. Our platform empowers our customers by unifying communications, providing end-to-end visibility and ensuring compliance.

It is India’s first online transport and logistics company, which solves the need for laborious phone calls and emails encountered by shippers and carriers daily, our mission is to bring greater visibility and connectivity to the logistics industry to reduce waste.

The logistics company uses AI/ ML for demand forecasting which help it to seamlessly solve the problem of return load in real-time which ultimately helps to bring the cost of logistics in India down which is currently 14 - 18 per cent of GDP as an expense as compared to 8 -10 per cent globally.

“The idea of our digital marketplace is to connect carriers & shippers, into one working chain,, interact, and transport goods safely and reliably. All users have access to real-time info. Shippers can find carriers, choosing the most suitable by looking at metrics such as their ratings on the platform, and the number of delivered orders, and read feedbacks about them. Carriers, in their turn can make use of the platform to create orders, decrease fleet downtime via better planning, scale their business, control drivers, and decrease risk. Our platform empowers our customers by simplifying communications, offering end-to-end visibility and providing a sense of security” said Arham, Founder and CEO, Trucknetic.

"Every carrier associated with us is a registered & verified carrier. Only after proper verification, a carrier can advertise their capacity and be able to quote on posted loads. This certainly increases the availability of shipping opportunities for shippers. We also make it easier for carriers to find loads. Through our platform you can advertise your service offerings and get connected with shippers looking to move freight. At Trucknetic, there’s always a job available for carriers" he added.

Trucknetic is a digital logistics service provider which is paperless, faceless and entirely tech-based. All services can be availed through the touch of a smart phone.

With the use of artificial intelligence, the company refactor the end-to-end transportation process. All trucks and truck drivers are verified before shipment options are provided. Shippers also have the option of live tracking their shipment movement with timely updates.

Arham stated, "The transport & logistic industry is presently undergoing a major overhaul with the aid of digitisation. Shippers, carriers, and logistics providers come together at the digital marketplace to offer and get info about each other’s needs. The growth of electronic marketplaces has assured to reduce transaction costs, offer superior visibility of freight movement, and decrease inadequacies in the present transportation & logistical processes."

Trucknetic has more than 50000+ downloads on Trucknetic Carrier application and 15000+ downloads on Trucknetic Shipper application and has moved close to 100,000 metric tonnes of goods.

It has a network of close to 200,000 fleet owners and 50,000 transporters which roughly translates to over 1 million trucks in our network. It has done a revenue of USD 3 million since December 2019.

The company has moved diverse commodities such as coal, chemicals, edible oils, glass, plywood, etc. across the country for long, short and medium haulage. Trucknetic is also on an expansion drive and is looking at a first round of funding to raise up to USD 10 million by the end of May.

The company is in talks with few angel investors and are looking out for large venture capital funds. It also plans to use the proceeds from the fundraise to strengthen its existing software as a service (SaaS) and analytics-based supply chain management solutions, through both organic and inorganic routes.

Trucknetic has a host of prestigious brands as its clients including such as Patanjali, Action Tesa, Nuvoco, Gulshan Chemicals, etc. and has received numerous awards and opportunities for its hard work and passionate vision, including the 10 most trusted logistics & supply chain brands 2021, top placer logistics 2021, best shippers, and carriers marketplace platform (APAC).

It is 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 on solving the return load problem and demand forecasting using Artificial Intelligence and Machine Learning.

Website: https://trucknetic.com/

PWR
PWR

(This story has not been edited by THE WEEK and is auto-generated from PTI)