The festive season is here. We all are in the midst of buying and selecting gifts for our loved ones. But what if the gifts we selected with so much love and affection doesn’t get delivered to our loved ones? Won’t that be catastrophic?
Off late, many e-commerce giants like the Amazon, Flipkart, Swiggy etc are spending a hefty amount to reach out to their end consumers especially living in remote areas and they have made this last-mile delivery as one of their primary missions.
These giants now do understand the fact that a majority of Indian population recites in these tier-3,4 cities and rural areas. Though, the geographical locations of these places are still a big challenge which they would like to overcome in the near future.
While these giants are battling it out to reach to the remote corners of the country, we have a player named 72 Networks which is a PAN India distribution house specializing in last-mile delivery with special focus on rural areas.
Unlike traditional distribution, 72 Networks relies on cutting edge technology to be the cornerstone for driving business. Their primary competitive advantage is their extensive network set up with a ”No ODA Concept” to deliver to every pin code in the 11 states across 46 warehouses that were set up in a short span of 11 months.
They act as a rural e-commerce enabler connecting microfinance institutes (MFIs, Lending Companies) etc, and OEMs like Samsung, Xiaomi etc, to reach out to get customers from rural India – Tier 2, Tier 3, Tier 4. In simple words it sells OEM products via the loan they get from MFIs (for example Muthoot Finance).
Few of their happy MFC Clients are BHARAT Financial Inclusion Ltd, Fullerton India, Fusion Microfinance, Satin, Arohan etc. and few of there OEM partners are Samsung, Motorola, MI, Nokia, Godrej etc
Till date, they have made about 1,32,000 individual rural deliveries since inception across the country and have closed the FY 2018-19 with a positive top line of Rs. 70 crores.
They are excited to get into the next growth phase of their business which is to use technology – primarily AI as a tool to drive the business thereby achieve higher profitability and reach 300 Crores of business in FY 2019-20.
In the same context, Srinivas Lingamuthu (Co-Founder & CEO) & Gaurav Ahlawat (Co-Founder & CSO) of 72 Networks would like to share their thoughts on the following topics:
1. The current status of the last mile delivery options in India, especially in the rural areas.
2. How MFC’s and OEM’s can collaborate to give better loan options to the people in rural India?
3. How 72 Networks is leveraging technology to enhance their last-mile delivery options?
4. How is 72 Networks planning to enhance the lives of people residing in rural areas?
5. Company & sector growth in the next 5 years.