Former Infosys CEO Nandan Nilekani and Accel Partners-backed truck network start-up 4TiGO on Wednesday announced commencement of operations in six Indian states, aimed at optimising goods transportation by bringing all stakeholders on to a common platform.
The cloud-based technology platform with complementing business services integrates consignors, consignees, fleet owners, transport companies and agencies, enabling them to exchange information, transact and manage their entire business.
"With pervasive connectivity, affordable mobile technologies, these efficiencies are now achievable at an industry-level by orchestrating a network of trust of various industry players. Such networks can achieve unprecedented scale, without compromising agility and flexibility," said Nilekani about 4TiGO.
However, Nilekani and Accel Partners did not reveal their investments in the startup.
4TiGO targets Indian road transportation system which is unorganised and highly fragmented, leading to numerous inefficiencies.
Promising to deliver payment guarantee and fulfilment assurance, 4TiGO partnered with Federal Bank to roll out B2B electronic payment platform, integrated to its core transaction and contract management process. Federal Bank also developed a special credit programme to offer working capital support.
Leading oil marketing company Indian Oil Corporation has also joined the network as a strategic partner, throwing open its 800 plus networked retail outlets to provide complimentary parking, overnight stay, breakdown assistance and others to the participating truckers.
"We have used a combination of fourteen different streams of technology to create an intuitive user-interface so that a truck driver, anywhere in India, can find a load, close the deal and be on his way, all within three clicks," said 4TiGO co-founder Anjani Mandal.
Vivek Malhotra, co-founder and chief of strategy and marketing, highlighted that strategic partnerships have converged with the startup to provide a comprehensive, end to end solution to orchestrate the Indian road transport ecosystem and thereby create an effective logistics network.
The 4TiGO truck network is currently operational in Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Kerala and Goa, with plans to spread across India in 12=18 months.
--IANS
sth/vd
