TruckSuvidha featured in Economic Times
India’s entrepreneurial sector is abuzz with a number of young leaders who want to proactively contribute to the well-being of society without waiting for the establishment to solve problems.
These entrepreneurs are grappling with challenges in areas as diverse as education, healthcare, energy, drinking water and sanitation. They are making use of their knowledge and resources to come up with innovative solutions.
According to venture capitalists, social entrepreneurship is the need of the hour as it’s about solving problems at a scale that has a meaningful impact and creates shareholder value as well, reports Varun Khosla.
“Entrepreneurs are recognising that it is possible to build sustainable businesses targeting the bottom of the pyramid and investors are willing to back them in their efforts,” said Sandeep Singhal, managing director of Mumbai-based Nexus Venture Partners, a $600-million early-stage venture fund which is partnering exceptional entrepreneurs.
“Philanthropy is shifting to measuring impact and social enterprises provide the best vehicle for such capital to achieve their goals.”
MAN ON MOVE
Ishu Bansal, Age: 26
Venture name: TruckSuvidha
Venture description: Co-founded with entrepreneur Amit Punaini, this Yamunanagar-based company connects over 24,000 truckers for an on-demand truck service. TruckSuvidha, Bansal said, was created with the single objective of utilising the available resources and providing existing players in the logistics industry an opportunity to boost business.
Funding and business model: The company is currently bootstrapped. It works on a subscription model where a customer who has cargo to send can post the listing on the app or website. A transporter who has bought a subscription package from the website can view the details. The idea is to reduce the losses for the truck drivers and to empower them.
What next: The company plans to expand across India into the packing and moving space as well. It currently largely caters to the northern parts of the country and plans to start operations in the rest of the regions as well.