Inspired by ‘Ola for X’ concept, two IIT alumni started logistics startup Anstrofast to solve challenges in intracity trucking market
Logistics-tech startup Anstrofast which is backed by Startup India and STEP IIT Kharagpur, was started as The Anstrofast in January 2021 by IIT alumni Anand Keshri and Vijay kumar maurya, to change the fragmented intra-logistics industry by leveraging technology.
The Ranchi-based startup is a logistics marketplace that allows businesses and individuals to book vehicles on demand for completing intra-city logistics needs. At present, Anstrofast works with ecommerce, FMCG, SMEs, traders, 3PLs, courier, and cargo companies. It has disrupted various domains of logistics by launching an on-demand marketplace for LCVs and bikes — Anstrofast for Pick up & drop services and Packers and Movers.
Bitten by the entrepreneurial bug, the founders were inspired by the ‘Ola for X’ concept 3 years ago to serve consumers with on-demand services.
The co-founders studied the business model of Ola and similar companies, which were aggregating existing supply chains and matching it to demand in a much more efficient and effortless way by using technology. The trio did ground research on logistics in Ranchi and found a huge market gap in the last-mile delivery space.
The intra-logistics industry was a highly fragmented market with glaring gaps in demand and supply, poor matchmaking, and low asset utilisation.
With the existing challenges, the industry also lacked an ecosystem for smooth functioning of the entire logistics cycle. It was clear to us that only a tech intervention can fix the gaps. Hence, Anstrofast was started to turn these challenges into opportunities and to leverage the promising intra-city logistics market in India.
While the business and its stakeholders must create an effective economic cycle, the larger purpose for Anstrofast is to create a social impact that positively changes the lives of every stakeholder in this journey.
The drivers earn 30 percent more and customers save 20 percent on logistics costs, and have a better experience with lower wait times and higher availability.
Anstrofast is also one of the only logistics models that is 100 percent asset-light and has a negative working capital cycle.
The startup, which was started with two vehicles in March 2021, is now present in over 5 cities across Jharkhand, with more than 10000+ customers and 2000+ owner-drivers on board.
Our USP is our tech platform itself, which allows our customers to place orders on demand and get instant responses from delivery partners within minutes. This is very convenient for growing businesses because there are many businesses that cannot predict the customer inflow.
Another USP is the fact that we operate on kilometer basis, which major competitors do not offer. We have fair and transparent pricing for everyone on our platform.
Lastly, we are developing superapp products that will SMEs , enterprises and individual to get hyperlocal last mile delivery on the same day, with cost efficiency and a dedicated rider support model.
The demand for affordable, same-day delivery of goods was obviously accelerated by the pandemic, and no less so in developing countries as well as developed ones.
Its gig economy workforce enables delivery via any route, any transport, any weight or size. We have built algorithms to optimize numerous parallel delivery routes, taking into account the geographical routes, packages’ contents, couriers and other factors.
The true fundamental shift in eCommerce took place with the increasing reliability and convenience of on-demand delivery services. In Anstrofast, we find a team with a clear vision of the opportunity in the evolving on-demand delivery space. We have vision to go global; becoming competitive in international markets.
We have raised $1million seed round by Startup India. The newly-raised funding will be used for rapid user-base expansion, building a stellar tech infrastructure by incorporating AI, ML, big data, and providing additional value-added services. We also aims to create an all-encompassing ecosystem for truck suppliers and become the go-to digital solution for them.
We are disrupting the antiquated logistics approach in India and helping truck suppliers make a name for themselves. On some major routes across Jharkhand, Anstrofast is helping truck drivers earn more than twice what they usually earn, by increasing truck utilisation.
The Indian logistics industry is forecasted to touch $307 Bn by 2020. Currently valued at $130 Bn, around 35%-40% of the market is in the intra-city space. It is also estimated that 1.8 Mn small commercial vehicles complete millions of transactions daily, across the country.
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