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You are here: Home » National News » Supply Chain» Novire Technologies aims 40% growth

Novire Technologies aims 40% growth

23 February 2017 | Bangalore
 

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Novire Technologies plans to grow by 40% this year as it bets on its upcoming app, along with cloud, big data and IoT to drive growth this year.

Being privately held, Novire does not disclose turnover or profitability but said that there is a significant market opportunity in logistics.

Uma Rajan, founder and senior partner, Novire said that “We plan to onboard 10,000 trucks in the next 6 months.”

The company has around 30,000 trucks in its database. Novire is providing an Uber-like technology which will enable a shipper to find a variety of transport choices through an automated system, an area which is dominated by middlemen or brokers.

Hiten Varia, Chairman, Novire Group said that “These brokers take away 25% of the margins and not always work in the best interest of a transporter.”

The app is called ITBS-Truck ka Load and will soon be launched on Android Play Store, company executives said. Currently, there are around 2 million trucks in India, according to industry watchers.

Varia said that “With this, a shipper can plan his route better and gives him transparency as well as reliability in services, areas where they are struggling at present.”

Rajan also points to the advantages that drivers get better trip utilisation and do not have to wait for many days to get a load. Currently, market watchers peg that for every 1,000 trucks there are 800 drivers. “It also improves the yield per truck,” adds Rajan.

   
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