Riding On India’s Growth Wave
Jugnoo, a phenomenon that started as an auto-aggregator, is now a one-stop solution for all local needs. Founded in November 2014 by two IITians, Jugnoo began as India’s first auto-rickshaw aggregator with the objective of making daily commute easy and reliable. But today with 10,00,000 transactions per month across 45 cities, the company is now spearheading the evolution of the local Indian marketplace into a digital reality. Headquartered in Chandigarh, Jugnoo provides a wide range of local services on-demand — auto-rides, food delivery, groceries, logistics and even a location-based local social network.
“Jugnoo is one of the few companies that is solving problems that everyone has, like getting an auto rickshaw to your door step. In India you can see there are a lot of problems with respect to the transportation sector in most tier-1 and tier-2 cities. We are helping people get a vehicle at their doorstep and go from there,” says founder and CEO Samar Singla on why Jugnoo stands out.
“Apart from that, these days people want things such as food, groceries and other stuff delivered at home. So we are trying to give them a platform where they can find everything at their fingertips, from their home,” adds Singla.
With regards to Jugnoo’s journey so far, Singla says, “It’s a hustle all the time. You have to keep working hard and figuring out what’s going on in the market and everywhere, and try to scale operations up from zero to something bigger. There’s a tremendous amount of hard work that goes into it. And though I think it’s not easy, it is definitely worth doing”.
Naturally, for a company like Jugnoo, strategic partnerships are integral to its operations. “Paytm has invested in us and there are a lot of other organisations that work with us for delivery services. KFC has worked with us. Pizza Hut has worked with us for food delivery. And for e-commerce delivery, Flipkart also has a partnership with us,” says Singla.
Regarding the company’s long-term growth potential, Singla expects to double revenue every year for the next three to four years. With the Indian market poised for tremendous growth and our GDP growing at around 8 per cent now, sectors such as transportation and logistics are going to have a double digit growth every year. “At the scale India is progressing, we really feel that we are poised for growth and we will try to double ourselves every year, for the next four years,” adds Singla.
With regards to how Jugnoo disrupts the market, Singla says, “We are trying to find out the things that people want, and trying to solve them using technology. We are disrupting the traditional ways people do things. The traditional offline market is the one that is getting disrupted. Offline market is the way almost 98 per cent of our population do things right now, but they will soon try to do things in a way that is a bit more efficient, saves their time, and their money as well. It really is a very huge market that will work in a very different way, a year or two from now. Keep on watching out for us, and the news we are going to generate over the next one year,” adds Singla.
Growth potential: As the Indian growth story improves, the logistics and transportation sector are poised for a high growth rate, with rising demand from consumers.
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