Top News

|  DP World reports 10.7% gross volume growth in Q2 2017  |    |  Major Ports post combined net surplus of INR 2820 cr in FY 2017  |    |  Odisha sets a target to reach INR 1 lakh cr exports by 2025  |    |  Shapoorji Pallonji Group to spend INR 2,000 cr in Odisha Gopalpur Port  |    |  Air India SATS Airport Services launches mobile app for tracking cargo  |    |  IndiGo & Jet introduce additional flights to Doha, Mumbai from Kozhikode  |    |  Port of Rotterdam registers impressive container throughput rise in H1  |    |  New waterways to connect India with Bangladesh  |    |  Yang Ming to start New Korea-Taiwan-Hong Kong service  |    |  DFC to be commissioned in 2 years  |    |  Domestic air traffic up 20% in June  |    |  No new port in 100 km vicinity of major ports  |    |  IRCTC to install 1,100 water vending machines at railway stations  |    |  Port of Antwerp first half volume increases by 1.9% to 5,143,305 TEU  |    |  Asia-Europe rate falls 2.1% to USD 919 TEU, declines 3.1% to USWC  |    |  Operations at international cargo terminal likely to begin soon  |    |  Haicang Port sees 1H cargo rise 20.7% to 3.12 million TEU  |    |  Bahri gets delivery of 39th VLCC, strengthens its leading position  |    |  Shreyas Shipping & Logistics signs MoA to acquire one Multipurpose vessel  |    |  Businessman to sell 12% stake in CIAL  |   
You are here: Home » National News » Supply Chain» Novire Technologies aims 40% growth

Novire Technologies aims 40% growth

23 February 2017 | Bangalore
 

transreproter

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.

   
Transreproter Logo