Carpooling as a idea has started to benefit momentum in India. The presence of a couple of gamers like Zify, Ridingo, Letsride in addition reinforces that this concept has a long manner to head.
Cubito turned into but any other participant which commenced of with cab sharing. But with the presence of some of gamers and complexities concerned in adoption and management and being tech entrepreneurs led Pranay Agrawal and Yash Patodia, graduates from BITS Pilani and founders of Cubito, to pivot into the transport logistics automation section 9 months lower back.
Neocube Technology Solutions Private Limited which runs and operate Cubito has simply raised INR 1 Cr. In seed funding from Sol Primero.
What it gives?
Transport logistics is an exciting space, but it comes with its personal set of complexities and hence there in lies the need to herald some automation and employer.
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Bangalore-based totally Cubito pivoted faraway from providing shared cabs and is now a generation-primarily based enabler and has created a proprietary answer for corporates to manipulate its worker transportation.
Its flagship product Employee Transportation Automation Tool (ETAT) compiles all employee records, geo-codes the data and allocates the fleet, warding off needless office work and lowering the time spent in permitting to a depend of seconds. Imagine having an Uber or Ola like backend to control and manage all employee transportation!
The value add by means of ETAT, in terms of safety, ease of use, carbon footprint discount and the time & fee financial savings has had an outstanding reaction from the marketplace. Today with era leading the manner, Cubito is targeting a multi-billion greenback market.
While Cubito’s ETAT specializes in Employee Transportation, the generation that has been developed in house is an answer for a extensive variety of logistical problems.
Pranay & Yash says “With generation people tend to over complicate matters and this is precisely how we differentiate ourselves. With a very in-house proprietary generation and a high-quality set of mentors, we awareness towards making the enjoy of permitting transportation as a enterprise or using it as a consumer, extremely easy and a pride to deal with.”
Market Size, Traction & Future Plans
Employee delivery and logistics as an entire is a $10 Bn marketplace which Cubito is focused on to. With Air India SATS as its first purchaser and operating to close 4-five extra clients by using month, Cubito plans to shut at-least 15 customers inside the subsequent 6 months.
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The startup in addition plans to head after the ecommerce and 0.33 birthday party logistics space focusing on the remaining mile shipping optimization, truck route planning and others. Cubito, also plans to rollout positive smaller products focused on to the clients.
The startup plans to use the funds raised for technological improvement and to power growth across verticals.
“Transport logistics is an thrilling area. And with the developing charges and complexities, Cubito has done immensely properly to put themselves and have introduced out an excellent product that's simplifying the way transport logistics is handled today. They are at a good growth curve in the mean time and matters appearance promising for them thinking about the market tendencies and desires. Both founders are relatively stimulated people from BITS Pilani and I am happy a good way to help fellow BITSians.” – Phanindra Sama, Co-Founder, RedBus.In
Cubito is incubated at Kyron Global Accelerator and presently, the startup has presence in Mumbai, Bangalore & Delhi. Launch in 2012, Cubito, had formerly raised INR 1 Cr. In investment in 2013 and currently is operating with a crew of 11.
As part of this transaction, Presha Paragash from Sol Primero which is also an investor in Smart Pocket, Ridingo and few others, will be becoming a member of the board of Cubito. Commenting on the transaction, Presha Paragash says, “We agree with, they've the ability to take logistics management each on the worker transportation facet and final mile shipping to the subsequent degree because of the advanced technology that they have evolved.”