Hyderabad: On-demand truck hailing startup Lynk has announced the launch of its services in Hyderabad and is optimistic about the growth here as the city has high density. In addition, the company is looking at raising more funds in the near future with Rs 3-4 crore already raised so far which was partly supported by Ramco Group.
The platform that connects a shipper with a transporter to move goods within a city has already clocked in 80,000 bookings in Chennai and is planning to hit a target of 100,000 transactions in Hyderabad with 1,000 trucks and 10,000 unique customers regularly. On the customers front Lynk wants to target individual customers and small businesses who have to haggle to get trucks on-demand.
Speaking at the launch of the services in Hyderabad, Abhinav Raja, co-founder, Lynk Logistics said, “After almost a year of operations in Chennai we are launching our services in Hyderabad. We will continue to expand our services all over India and are targeting tier-1 cities first for our phase one expansion. For this purpose, we are looking at raising more funds as we have been bootstrapped company with support from Ramco Group with Rs 3-4 crore.” Raja did not disclose the amount for additional funding.
The company claims to have achieved operational break even and is growing at 25-30 per cent month-on-month. It is currently the second most downloaded trucking app (55,000+ downloads) in India. With their expansion into Hyderabad, its transactions are expected to grow at 30-40 per cent month-on-month through financial year 2018.
Lynk allows booking through a mobile app or through the call centre. The tariff is dependent on the total time used and not on the distance covered, which means the customer is charged per minute basis. Currently the cost per minute is between Rs 4 to Rs 8, which it claims is 20-40 per cent cheaper than traditional negotiations.