Progressive web app Shipmantra plans to raise USD 1 million soon

HYDERABAD: Shipmantra, a T-Hub 2.0-incubated startup, is planning to raise around USD 1 million and is all set to become a Progressive Web Application (PWA) (a website that would work as an app for Android and iOS).

Shipmanta is a super app, designed to solve the problem of sending parcels. It brings together all shipping companies and gives customers a single platform to access all logistics.

Co-founder of Shipmantra, Abhinav Pulavarthi, said that the application would democratise logistics and shipping. It would be a one-stop-shop solution for anyone who wanted to send a package to anywhere in the world.

Here are a few excerpts from an exclusive interview Abhinav Pulavarthi with NewsTAP.

What is Shipmantra? How was it ideated and what is the growth story?

Dinesh Reddy, the founder, and I met through a mutual friend after I quit my not-so-satisfying job in 2019 and paired together to set up our startup. We had initially thought of starting a peer-to-peer logistics company in which general people could deliver packages while travelling.

This is a concept popular in the West. Just when we thought of launching it, Covid hit. During the lockdown, our friends and family contacted us to get things delivered locally. The idea of this logistic solution struck our minds. Just like comparing Ola and Uber's rates before selecting one, or checking all food apps before placing an order, what if there was a platform where one could send parcels locally, intercity and internationally while also comparing prices from available options. So we came up with Shipmantra. We have now partnered 30 + shipping companies and are a booking partner to the customers.

Are you and the founder from tech backgrounds?

Dinesh Reddy D V, Founder and CEO of Shipmantra was a mechanical engineer and a Post graduate from a French IVY league college. He also worked for Toyota Kirloskar motors and as a Senior Research Fellow at Aeronautical development Agency Ministry of Defence, Government of India

I, Abhinav, have more than nine years of experience and am also a double Post Graduate holder- one in e-Business (operations & supply chain management) and another in Business Analytics.

How much funding has been raised?

We, just two months ago, raised Rs 50 lakhs pre-seed funding. We plan on raising USD 1 million in the next few months.

What is the revenue model of Shipmantra?

In the web app, we collect a platform charge of a minimal percentage of the delivery cost. For example, if a customer wants to send a parcel from here to Mumbai, they can compare which courier service — say Bluedart, DTDC etc — has the best price, on Shipmantra. While booking, they would be charged an additional amount. The total amount would still be lesser than what it would have cost to book from outside the website as we work in volumes and set the rates accordingly.

The customer gets to compare rates of all shipping services, using the same KYC and in a much lesser time than other postal/courier services.

What is the current market competition?

There are big players in the logistics industry. However, there is no logistics company which has this holistic approach to sending parcels. They are majorly focused on e-commerce.

What is the marketing strategy of Shipmantra?

In all these years, we haven't really marketed Shipmantra. It only spread through word of mouth. In Vizag, during lockdown, we have delivered 40,000-plus parcels through marketing. We plan on marketing, once we turn into a PWA. Our contacts have immensely increased through T-Hub. We also learnt so many go-to-market and sales strategies during the incubation. We plan on implementing those as soon as we are a PWA.

What has been Shipmantra's journey with T-Hub?

Shipmantra was incubated in Lab 32 and since then our approach to building the startup has completely changed. We now have more networking channels, our approach to go-to-market has changed, our marketing and sales strategies have also been affected with it.