Founder Pramod Prakash pitched InstaLogist at the Connecting Ideas With Money session at Lounge47 on the 24th of September, 2021. InstaLogist is a logistics Tech startup based in Bangalore that helps shippers, transporters, brokers and fleet owners to efficiently carry out the long haul FTL (Full Truckload) shipment with spot booking of truck, through its FTL Marketplace platform. It is at the beta release stage.
The founders chose this vertical as it offered a huge market size, inefficiencies and a high barrier to entry due to the rough nature of the transportation industry.
website: https://instalogist.com/
App: https://play.google.com/store/apps/details?id=com.instalogist.marketplace
In FTL (Full truckload) shipment with spot booking of truck, finding the truck is an inefficient process and involves multiple players that increases transportation costs. InstaLogist, provides a Full Truckload (FTL) marketplace platform where load providers and fleet providers can discover each other and carry out the shipment. InstaLogist also leverages the platform to carry out the shipments for its direct customers. The startup blends it with their growth hacking strategy to onboard large volumes of supply in a small amount of time and at low cost of acquisition. The startup reports that it has filed a provisional patent in India for the same with a patent application number of 202141040077.
The startup was founded in June 2020.
“We started working on a full-time basis from Aug-2020. We initially started with driver-chaining-model without owning trucks. As we progressed, we learnt that it was not economically viable and we pivoted. Then we focused on truck aggregator solution… did pilot launches…. collected feedback from the market and found our sweet spot or PMF (Product-Market-Fit) which we are currently building. That is we provide a self-service platform for load providers and fleet providers to discover each other and carry out the shipments. We have also been doing shipments in parallel as transporters and also as brokers, mainly to be in touch with the industry and stakeholders. We were also able to attract fleet owners and sold GPS, which they use to track their truck on our App.”
The founders both worked together in InMobi and know each other for the last 5 years.
Founders:
Pramod Prakash: M.Tech in Electrical Engineering, Executive General Management Programme from IIM Bangalore, 16 Years of Software Industry Experience. He has played various engineering leadership roles including Head of Engineering for China @InMobi
Sandeep Barange: Master in Computer Applications, 13 Years of Software Industry experience. Sandeep has built scalable systems with high throughput and high volume of data handling.
