Traditional courier companies, though reliable, fail to provide on-demand and instantaneous services. Most on-demand courier companies operate within a radius of eight to ten kilometres from the dispatching unit. Adding to that, this sector although provides more opportunities for employment, employee welfare is not looked after. When it comes to scaling, a seamless logistic service often comes with a huge compromise with customer experience.
About the company
Ratnesh Verma- a Stanford alumnus and earlier associated with Hyatt group of hotels, along with his son Rushil-an LSE alumnus, started building upon the idea of a logistics startup last year. He started testing the business model on a preliminary-tech basis and after several trials and errors, Pidge was born.
Pidge is based out of Gurugram and works across Delhi and five other NCR cities- Noida, Faridabad, Ghaziabad and Gurugram. It caters to immediate on-demand deliveries and logistical needs. It currently has a team of 100 employees, including 50 delivery executives
Pidge offers two main services- an app-based platform for immediate delivery needs and a web interface platform to facilitate several deliveries from a single dispatch point.
The app is available across both Android and iOS platforms which will let customers organise the delivery for any item- be it perishables or electronics, within 60 minutes of placing a delivery order. It comes with no minimum guarantee or size order. The app also allows businesses to create a shared wallet, send/receive invoices and frame rules and benchmarks for deliveries.
The web-based service, however, is completely based on multiple delivery models and the dispatch point is fixed. This is a much-needed tool for businesses and e-commerce companies who would like multiple items to be delivered from a fixed warehouse to their customers.
Pidge's main focus is to provide a solution to the existing limitations that bug the logistics business. It enables instant, on-demand delivery from 7 am to 11 pm, without any radius limitations. It also enables safeguarding and reliability by having their delivery executives, providing live tracking and no prices surges. It also offers comprehensive customer support for queries or concerns.
It provides a triple-layered safeguarding system:
1. OTPs from the dispatcher as well as the recipient.
2. Tamper-proof bags to ensure there’s no theft of items during transit.
3. Full-time and on-roll employee hiring. Delivery executives undergo a lot of scrutinies and rigorous selection criteria before they are employed. They also have a quality assurance monitor system to rate the employee's service and interaction. Delivery executives are provided with a life insurance policy and medical insurance for their family, which instils confidence in them and drives them to perform better.
Pidge has also introduced the extensive and compulsory usage of hand sanitisers, masks and gloves as per guidelines instructed by WHO (World Health Organisation). It has also introduced contactless delivery. It is also offering free logistics services to businesses who are committed to helping out the distraught, lesser-privileged mass.
Growth and finances
Pidge is a bootstrapped company, with an initial capital of $3 million. The revenue model is based on delivery transactions. It charges a minimum fee for the initial few kilometres and then it follows a fixed price rate based on the distance. It has registered a 110 per cent monthly growth since its inception. It has now 10,000 customers on board, with 50 per cent of the customers recording a repetition when it comes to availing Pidge's services.
Currently, it is providing services to meat delivery companies, pet food companies, cloud kitchens and the hygiene sector. Some of its clients include Zappfresh, Taj, FoodTalk India, Masala Monk, Bombaykery and Pet Sutra.
The logistics industry is slated to record $215 million in revenue by the end of 2020. There are many key players involved in the logistics business, the likes of which include Delhivery which attained Unicorn status, Dunzo, Blackbuck, Lalamove and more. Swiggy has also launched a service, christened as Genie, which is helping customers send packages to each other within a locality.
Pidge aims to focus on growth and acquiring a substantial customer base. It also plans to establish a wider geographical footprint and diversification of the services it provides. However, it plans to raise capital only when there is a necessary demand to cater to their growth.