Hyperlocal logistics has always focused on quick and cheap deliveries compromising on security of the packages and the hand-off experience of consumers.
This is a primary reason why millions of businesses shy away from outsourcing its last-mile logistics, especially businesses dealing in jewellery, electronics, premium products, etc.
Gordian Technologies is a last-mile logistics startup that has set out to solve this problem with IoT-based smart lockers / devices.
The company has developed proprietary smart lockers that unlock only when an OTP is entered on the device.
These OTPs are sent by the company’s backend application exclusively to the sender and receiver of the package.
Further, the devices come with internal industry-grade cushioning to protect the packages from being damaged. The customer can also track the device through real-time GPS alerts.
Gordian’s fleet of delivery executives carry the devices with them on 2-wheelers and undertake deliveries. The company also facilitates insurance for the transit.
Speaking to Prajwal, Founder of Gordian: “We have good traction among businesses selling high-value items, and more than 100 businesses in Bangalore have trusted us with their deliveries.
Our customers always come back to us saying it’s something they’ve never seen before. Our customers have sent credit cards, aadhaar cards, jewellery, MacBooks, and even food!”
“We have gained customers in the high-end electronics, both retail and rental segments. Our next plan of action is to enter the vast jewellery market, which is currently underserved.
This market constitutes 7% of the GDP, but online penetration is still a meagre 1-2%. With Gordian solving the logistical leg, the jewellery market will be set to go online”
He further adds that their services are also being used by professional firms like CA firms, law firms, etc. to deliver confidential client documents.
The startup has been incubated at NSRCEL and IIM-B. It was also one of the 135 out of 1000+ deep-tech start-ups to be selected for the Startup India showcase.
Currently, Gordian operates on two business models. The first one being end-to-end last-mile delivery as a service and the second one being Hardware-as-a-Service model.
In the latter model, the company provides the devices and the underlying technology on a subscription basis.
The subscription model includes dashboard access, device maintenance, and customer support among others. Last year, the company ran a pilot with Rupeek, a $600 Mn gold-loan-at-home company.
The company has been bootstrapped until now and is looking to raise its first round in the next 2-4 months.
According to a FICCI-EY report titled ‘Future of IoT’, global IoT connections are expected to increase at a CAGR of 17 percent from $7 billion in 2017 to around $25 billion in 2025.
The report also predicts that Asia-Pacific region will become the largest global IoT region in terms of both connections and revenue by 2025. IoT devices across the globe are expected to generate 90 zettabytes of data by 2025.
How Cozy Stay transforms millennials’ lives in a city by providing a home-like living experience
| Are you an
Entrepreneur or Startup? Do you have a Success Story to Share? SugerMint would like to share your success story. We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories
|