Infraprime Logistics to catalyse USD 200m investment in construction logistics
Gurgaon, Haryana, India – Business Wire India
Infraprime Logistics Technologies, the electric truck and construction logistics start-up, is planning to catalyse investment of $200 million to electrify and organize construction logistics in India. The three-year-old company has grown to over $50m in terms of annualized gross logistics value of the contracts being executed.
The investment by the company would go in expanding the marketplace for construction logistics all over India, in establishing a state-of-the-art platform for vehicle servicing, charging and maintenance, and towards plant automation. Fleet operators, charging network franchisee owners and banks would be playing their part via purchase and financing of various assets. The investment would add over $1b in annual margins to stakeholders across the value chain.
As per a report by KPMG, the construction sector is expected to be a $1 trillion industry by 2025 and is expected to engage 1 million heavy duty trucks. The Company plans to showcase through its investment that all these 1 million heavy duty trucks can be replaced with electric trucks. The country wide displacement would need a charging network spanning 2,000 sites across 500+ routes.
Electric trucks can generate four times as much margins as a corresponding diesel truck. With introduction of BS VI, the prices of diesel trucks have gone up which creates a compelling case for electric trucks. The company’s electric trucks are priced at twice the price of a corresponding diesel truck.
The company launched its first electric truck model “Rhino 5536” in August 2019, which immediately garnered eyeballs. The company is planning to soon launch a 37 MT GCW model and a 28 MT GCW model.
The company also has an on-demand marketplace “IPLT Trucknow” wherein customers can directly place orders for their transportation/material requirements for construction projects. The orders are fulfilled by the drivers who get navigation assistance via the “IPLT Humsafar” App.
About Infraprime Logistics Technologies (IPLT)
IPLT is a start-up founded in 2017 that revolutionizes the construction logistics industry through fundamentally transforming the way drivers fulfil the orders and by replacing the diesel trucks with electric trucks.
Disclaimer: This content is distributed by Business Wire India. No HT journalist is involved in the creation of this content.
Enter your email to get our daily newsletter in your inbox
- JBC Dugout, an initiative by the organisation was a virtual meet where young badminton enthusiasts got the scope to learn directly from the players and experts such as P.V. Sindhu, Anup Sridhar and Ryan Fernando.
- Rahul was a fervid social media user and he loved spending time while being acquainted with the internet. This is when he realised that he can start building a career in this field.
- Uttam is very passionate about Digital Marketing. At an early age of Class 8, Uttam had started to learn digital marketing from different available sources.
- Himanshu is a graphic and website designer by profession and social work is his passion.
- The Group is committed to hand-over 4,000 apartments and commercial properties in six projects over the next one year.
- Pt. Karan Sharma is a Chandigarh based gold medalist holder, a renowned astrologer, who not only specializes in astrology and numerology but also in other healing modalities such as tantra, reiki, Vastu, palmistry among other things.