Delhi based Flywheel Logistics is planning to invest Rs 120 crores over the next two years for expanding its container capacities across the network as well as warehouse infrastructure. For raising fund to support this expansion, Flywheel Logistics has appointed PwC India to advice on the deal structure and on private equity infusion. Flywheel is aiming to raise $ 20 million in its first round of funding through equity participation from private equity.
Flywheel Logistics is a family-owned venture led by founder and CEO Anil Syal. The company is into domestic container transportation and warehousing business with a network across 18 states operating 160 daily departures on 60 national routes with the help of 750 strong fleet of 40 ft and 20ft TEU containers. Besides this, Flywheel operates 7 yards across India and reaches to 350 destinations countrywide. The full container load network operates on a hub-and-spoke model. In warehousing, Flywheel Logistics has presence in 21 states with over 1 million sq ft of warehousing space and secondary distribution to over 250 districts in these states.
After the proposed expansion, Flywheel Logistics will be among the top three companies in India offering container transportation.
Anil Syal commented, “In a largely fragmented market of domestic surface transport, we see a huge opportunity which is yet untapped. With a unique service model and high service standards we are confident of growing much faster over next 3 years. Being a young company we have managed to use very strong technology-base to be able offering our clients sophisticated and transparent service. This makes Flywheel more dependable to our clients"
Flywheel’s serves clients such as Tata Motors, Pidilite, ITC, Coca Cola and Vishal Megamart.
Anil Syal added, “The company's order book has seen a major positive impact due to the upturn in business sentiment across India in recent months and the impact of government’s initiatives such as ‘Make in India’, etc.”
