inDrive launches freight service in Delhi-NCR, 2 other cities

Peer-to-peer global mobility and urban services platform inDrive on Friday announced its foray into the domestic logistics market with the launch of its freight services in three cities, including Delhi-NCR and Mumbai.

California (US)-based cab aggregator said it has made its India market debut after recognising the immense potential and demand for efficient and cost-effective freight transportation services in the country.

The services have initially been launched in Delhi-NCR, Ludhiana and Mumbai and the platform plans to venture into other cities as well soon, inDrive Director Alexey Tryapitsyn told PTI.

The target is eventually to secure No 2 spot in the logistics segment in the next five years, he added.

InDrive through its app offers same-day and on-demand transport service to small businesses to find delivery options for any 20-plus kg freight.

Users can find a large and diverse fleet of vehicles such as three-wheelers, pick-up and mid-sized trucks for small and medium shipments.

The app also allows truck suppliers and customers to negotiate freight rates for transportation as there are no fixed rates.

In addition to ride-hailing, inDrive provides urban services, including intercity transportation, freight delivery, task assistance, courier delivery and employment search.

It operates in 614 cities across 47 countries.

The platform raised USD 150 million in a hybrid instrument from General Catalyst to fund marketing spend, including user acquisition and retention costs in February this year.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.