Vertical: Logistics/Supply Chain
Market: India
SDG: SDG 7
Fundraising: $2 Million
Vertical: Logistics/Supply Chain
Market: India
SDG: SDG 7
Fundraising: $2 Million
Making the city eco-friendly, one delivery at a time. Get to know Ashok Viswanathan, CEO and founder of Fullfily, as he shares how he creates sustainable solutions through intra-city deliveries.
Fullfily is bringing down the cost of logistics by up to 40% and the emissions generated by logistics by up to 60%.
We offer a fleet of electric vehicles, which includes electric scooters, electric tuk-tuks, and electric vans, and we are also building our infrastructure, like battery swapping stations, service stations, and charging stations, for these electric vehicles.
We decided to start Fullfully because we were all impacted by carbon emissions. You go out onto the streets and you see a lot of smoke coming out of vehicles, and it's impacting the planet and all of us on a day-to-day basis. On a personal front, we are also impacted by the cost of logistics, which further brings up the consumer prices of goods.
We are full co-founders here at Fulfillly. I am in charge of handling the entire organization, especially the GTM. I've got around eight years of experience; I've worked with NASDAQ-listed companies like Make My Trip and Fresh Works; and I've been an out-and-out revenue guy. The other three co-founders, two of whom come in with core logistics backgrounds; one of my co-founders, Ranjit, had previously sold a startup prior to Covert and it was acquired by a larger entity; and I've got a CTO who's built out my Tech from scratch and he's worked with companies like Amazon and McKenzie.
We've got the right set of skills, the right knowledge, and the experience to handle a logistics-based startup. We've got two Logistics guys who have lived and treated Logistics in their careers. We've got a CTO who's absolutely incredible at building a tech stack. I've got experience handling revenue-generating teams, and we're absolutely smashing it together.
We are currently active in India, and the market size in India is so huge that we have to focus on India before moving to other Emerging markets, which is part of the pipeline going forward, but right now India is absolutely keeping us busy, and we're very bullish about the market.
The market size currently in India for Last Mile Logistics is estimated at $30 Billion, and it's expected to grow multi-fold in the next half a decade. We are looking at a serviceable addressable market of up to $15 Billion with what we have right now.
The logistics and supply chain industry is growing enormously; it's got fantastic potential, and we're very bullish about it. With regards to EV-based logistics, I guess that's the future; that's where a lot of companies are transitioning instead of using Legacy players or fuel-based operators, and we don't see it slowing down anytime soon.
Fullfily is going to be capitalizing on the market growth because, as you know, adoption of electric vehicles and greener mobility solutions is absolutely essential. We are, you know, getting sped up with the aid of like government regulations and companies green mandates and their necessity to cut down on the cost of logistics and carbon emissions, so we are adding a huge fleet size, we are, you know, building out like a lot of infrastructure, and we're setting up the proper groundwork to, you know, grow multi-fold in the next half a decade.
We've got multiple streams of revenue; we've got a subscription-based delivery platform; we have revenue coming in on a per-order basis; we do concierge pickup and drop services; and we are currently generating $100,000 in monthly recurring revenue.
We're clocking $100,000 of monthly revenue, we're growing 30% month on month, and we've got a signed value, which will take us to $700,000 of monthly Revenue by December 23.
We see Fullfily growing to multiple cities in India, growing to a fleet size of up to 2,500 vehicles, and clocking around $1.5 Million of monthly revenue.
We are raising $2 Million, and we've got commitments for $1.5 Million from Marquee VCS and syndicates, and this will get us to around 18 months of Runway, and we'll be covering multiple cities with this fundraise.
Accelerating Asia invests in startups with scalable technology solutions and revenue generating business models that combine purpose with profit.
In making an investment decision, investors must rely on their own examination of startups and the terms of the investment including the merits and risks involved. Prospective investors should not construe this content as legal, tax, investment, financial or accounting advice.
