Trucknetic is a team of passionate individuals dedicated to serving the shippers and carriers because the transportation industry is still low-tech, fragmented, and unorganised.
The journey of Trucknetic started with the Founder and CEO of Trucknetic, Mr. Arham Partap Jain. He comes from a business family, with his father being a first-generation entrepreneur who had set up a trading business 35 years ago. This has helped to shape Trucknetic a lot as it allowed Mr. Arham to gain immense knowledge about business and experience at an early age. He joined the family business in early 2018 and soon encountered many challenges around trucking. For instance, challenges with different stakeholders involved around trucking such as fleet owners, transporters, brokers, shippers, end-customers, etc., and issues related to road transportation.
He understood the significant problems faced by carriers and shippers. For carriers (fleet owners), the single most challenging thing that they wanted to eliminate was the unavailability of return-load (backhaul). For shippers, it was the unavailability of trucks for a particular lane at a particular time. That’s how he conceptualised Trucknetic.
Trucknetic enjoys domain expertise not only among carriers and shippers but also among other supply chain stakeholders. With sheer hard work and dedication, Trucknetic has posted a turnover of ~USD 2.5 Million since Dec 2019, with ~USD 200,000 being the monthly recurring revenue. Trucknetic has been associated with more than 500+ carriers (fleet owners and transporters) and more than 50 shippers (corporates, small-medium enterprises, and traders) and have done close to ~2000 trips till date with 12, 50,000 km of movement and transported 70,000 MT of different commodities and potential of transporting more than 50,000+ MT per month. Trucknetic also has a verified database of 2,00,000+ fleet owners.
If something is most important to Trucknetic, it is their customers; therefore, Trucknetic’s AI-enabled platform offers freedom of choice regarding the marketplace and the security; convenience of a digital freight forwarder. The solution comes as a cost-effective package for shippers. It increases earnings for the fleet owners by reducing the wastage of miles without freight and adding to the asset utilisation of trucks. Trucknetic has also launched its two different applications for shippers and carriers, one for each, respectively. For the shippers.
Trucknetic is determined to solve the problem of return load as Trucknetic is aware of the facts like; in India, the transportation market is highly unorganised and fragmented. 95% of the fleet owners own less than three trucks. With the traditional approach, these fleet owners choose their base near supply-heavy areas and place vehicles in the clusters near their hometown. Thus, restricting them to cover the remaining lanes and creating a massive gap in demand and supply. They have to take massive fare cuts on the freights on the lanes they go, although they incur the same expenses on diesel, driver, and other overheads. They have to wait for a day/ two to figure out any return load that under-utilises their truck most of the time. Therefore, until and unless one caters to this problem, it is challenging to make a viable aggregation platform for shippers and carriers.
The Trucknetic team is glad to get started at the right time and have a first-mover advantage to organise the logistics industry, specifically road transportation. Trucknetic can significantly minimise the wastage of miles without freight, enhance truck asset utilisation, and reduce the country’s carbon footprint, ultimately lowering down logistics costs significantly.
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