Logistics industry, estimated to be worth $385bn by 2015, has become one of the most crucial parts of e-commerce industry in India. It is expected to grow at a CAGR of 12.17% by 2020 owing to the growth and development in sectors like manufacturing, retail, FMCG and e-commerce. However, the hardest part of this industry in India is that it is still unorganized and fragmented.
Since the logistics industry is evolving rapidly, the question arises whether the logistics providers will able to reduce the costs of transferring goods and provide effective services in both segments – B2B and B2C. Powai-based startup Quifers is trying to solve this exact problem by providing accessible, hassle-free, on-demand and cost-effective logistics services to both segments.
Quifer was started in April 2015 with the vision of making logistics a simple and cost-effective affair. It is started by three MBA batchmates – Amit Mishra, Vaibhav Gupta and Amit Bansal. They have varied experience in e-commerce, consulting, healthcare, construction and manufacturing domains.
Amit is IIT Roorkee graduate in mechanical engineering and has done MBA from NITIE Mumbai. He has worked previously with Reliance Industries Limited, Flipkart, Snapdeal and Novartis. Vaibhav has done engineering from Thapar University and MBA from NITIE, Mumbai. He has worked with Amazon, Flipkart, and Deloite.
As for the Amit Bansal, he is a civil engineer from NIT, kurukshetra and MBA from NITIE, Mumbai. He has previously worked with WSP Global, Madura Fashion & Lifestyle and IMS before starting Quifers with Amit and Vaibhav.
Quifers’s main focus is on aggregating LCVs (Light Commercial Vehicles) using technology and provide smooth services to the customers. Amit says, “Currently our focus market is LCVs used for transportation by individual customers as well as small and large businesses.”
He further says, “We are creating a model of seamless integration of B2B as well as B2C market. We have created a system that will directly benefit the daily wage laborers and tempo drivers with a sustained source of income stream. We are further in the process of empowering small retailers, vegetable vendors and restaurants by including them into our B2B model for handling their logistics needs as well as promoting them via joint campaigns with Quifers. Thus, we are simply not a transport service, but a firm, which believes in creating value ecosystem.”
In B2C market, they are targeting people, who want to shift or move their household items from one place to another and as for the B2B market is concerned, they are targeting organized sector and unorganized retail and SME units. In addition, they are providing employment opportunities to labourers and drivers as well.
He says, “Organizing the labour market at this initial stage of the business is still posing many challenges, but we are focused on our aim to create an ecosystem, which is mutually beneficial to all the stakeholders (viz. customers, transport operators, labourers, and drivers) of the highly unorganized logistics space in India and will continue to do so. “
Curently, Quifer is working in Mumbai and has a small team of 15 professionals comprising of MBAs, techies and design experts. They are receiving 2-3 orders per day on average and presently tying up with SMEs like Red Express, Super Plywood etc. to increase their client base.
Quifers was started with initial funding from the cofounder’s friends and relative. Since they are looking for expansion into new cities like Delhi NCR and Bangalore, they want funds to enhance their technological capabilities and expand their team.
Regarding their plans, he says, “It’s still very early to project where we would be in next one year but we would want to see ourselves expanding to other regions like Delhi/NCR, Pune and Bangalore after capturing a significant market share in Mumbai.”
With Porter, Blowhorn, and Shippr operating in the same market, Quifers has a long way to go to stamp their authority in the highly unorganized logistics industry of India. However, since the market is still hot, their technology-backed product can still emerge as winner in the logistic industry.
Read Quifers’s reviews on their Facebook page.