Decoding Humsafar's 4.5X turnover growth
When every industry is now considering doorstep delivery of their services to meet customer needs, why can't fuel be delivered as well?
The idea struck Mayank Agarwal when he noticed auto-rickshaws transporting diesel in barrels.
"It struck me that the process was extremely laborious, time-consuming, and especially risk-prone," he tells YourStory.
This led him to team up with Sanya Goel, Nishit Goel, and Dilpreet Sadana to launchin 2016, a fuel delivery startup that uses regulated equipment to safely transport the fuel.
But the startup's impact was felt the most during the pandemic when it saw an immense spike in demand for fuel delivery from hospitals, hotels, and residential societies.
In the April-June 2020 quarter, Humsafar sold 15.7 lakh litres of diesel, over 4X growth in volume from the corresponding quarter the previous year. Its turnover grew 4.5x from Rs 3.8 crore in 2019 to Rs 18 crore in 2020 and Rs 28 crore in 2021.
New-age agritech startups are empowering 150 million-odd farmers with data-led systems. To understand the factors driving the growth of the sector, hear from industry pioneers on the fourth episode of 'Scale to Succeed' by HSBC, in association with YourStory.
Editor’s Pick: In conversation with Eric Grosse
Eric Grosse has accumulated an experience of over three years co-founding technology startups including Hotwire, an online discount travel company that was acquired by Expedia. He was also the CEO of TaskRabbit.
Recently appointed as the President of Suki AI, an AI-powered, voice-enabled digital assistant for doctors, Eric speaks to YourStory about his journey, his plans for Suki.AI, and how it can be transformed with technology. Read more.
Eric with Suki's founder and CEO Punit Singh Soni (L)
Delhi-basedis building an end-to-end platform, including bikes, battery swap stations, and software, for gig workers to help them increase their take-home income.
The startup has installed automated battery swap stations/machines across regions that can be accessed by the gig workers or “Baazigars”, who can avail the complete on-ground support from the rental partners. Read more.
News & Updates
- Mukesh Ambani's Reliance Viacom18 has announced a $2 billion investment from Bodhi Tree Systems and Reliance Projects & Property Management Services. Bodhi Tree is making up the bulk of that investment, with a $1.78 billion infusion.
- launch of Flipkart Labs to build and create technology-based solutions for redefining ecommerce and enhancing the shopping experience for millions of customers. The innovation lab will test new Web3 and Metaverse use-cases with real-world applications. announced the
- With an aim to accelerate the digitisation of micro, small, and medium enterprises (MSMEs) across India, ICICI Bank has launched a comprehensive digital ecosystem for small businesses.
- Only 10 percent of Indian video streaming service users are paying for access to their content, a new report from consultancy firm Ernst & Young (EY) says. The report adds there are a total of 503 million Indian users using accessible OTT platforms.
Before you go, stay inspired with…
“A startup founder has the responsibility of setting the company vision and establishing the right team spirit and work ethic. Strong leadership is the key to ensuring these goals are achieved.”