Business Companies 24 Feb 2019 Logistics startup fo ...

Logistics startup for green energy, Dot set to establish centres in 30 cities by 2020

PTI
Published Feb 24, 2019, 4:28 pm IST
Updated Mar 2, 2019, 3:56 am IST
Logistics industry is growing very fast and is expected to treble to USD 3 billion over the next few years from now.
The company has so far invested about USD 2.5 million, and has till now been a boot-strapped company. (Representational Image)
 The company has so far invested about USD 2.5 million, and has till now been a boot-strapped company. (Representational Image)

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 from the present 22. The company, which began in 2015, is a brand of Green Valley Energy Ventures and is largely into energy advisory, logistics and technical solutions for supply chain management, is also planning to raise USD 10 million or Rs 72 crore in the next three-four months.

Green Valley Energy Ventures is planning to set up thermal power plant of 1,320-mw at Vishakhapatnam 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've 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. Its expects to close the current fiscal with a topline of Rs 27 crore.

"We've an order book worth Rs 300 crore in hand, for the coming financial year," he said basing his optimism. 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. We also have plans to introduce electric buses in major metros. Our logistics services serve 22 cities now and we want to take this to 30 by FY20," 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 it is in talks with some large global PE players who may have big investments in the Indian tech, logistics space, including a dialogue with IFC.

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Location: India, Delhi, New Delhi




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