Infraprime Logistics to Catalyse USD 200m Investment in Construction Logistics
Gurgaon: IPLT, a start-up in construction logistics is catalyzing $200m investment for enabling deployment of 1,000 Electric trucks within next two years which will make it the largest Electric commercial vehicle operating platform globally. The Company’s AI enabled order booking platform “TruckNow” and driver assistance app “Humsafar” enables it to assure truck placement and charging slot availability for fleet operators.
Infraprime Logistics Technologies, the Electric Truck and construction logistics start-up is planning to catalyse investment of $200 million to electrify and organize construction logistics in India. The three-year-old Company has grown to over $50m in terms of annualized gross logistics value of the contracts being executed.
The investment by the Company would go in expanding the marketplace for construction logistics all over India, in establishing a state-of-the-art platform for vehicle servicing, charging and maintenance and towards plant automation. Fleet operators, charging network franchisee owners and banks would be playing their part via purchase and financing of various assets. The investment would add over $1b in annual margins to stakeholders across the value chain.
As per a report by KPMG, the construction sector is expected to be a $1 trillion industry by 2025 and is expected to engage 1 million heavy duty trucks. The Company plans to showcase through its investment that all these 1 million heavy duty trucks can be replaced with electric trucks. The country wide displacement would need a charging network spanning 2,000 sites across 500+ routes.
Electric trucks can generate four times as much margins as a corresponding diesel truck. With introduction of BS VI, the prices of diesel trucks have gone up which creates a compelling case for the Electric Trucks. The Company’s Electric Trucks are priced at twice the price of a corresponding diesel truck.
The Company launched its first Electric Truck model “Rhino 5536” in Aug 2019 which immediately garnered eyeballs. The Company is planning to soon launch a 37 MT GCW model and a 28 MT GCW model.
The Company also has an on-demand marketplace “IPLT Trucknow” wherein customers can directly place orders for their transportation/material requirements for construction projects. The orders are fulfilled by the drivers who get navigation assistance via the “IPLT Humsafar” App.