TruckMandi

TruckMandi, operating under the legal name Fixinnov Technology Pvt Ltd, was an online logistics marketplace founded in October 2014. The company was established by Ankit Singh and Anurag Jain, both former Snapdeal executives, along with Nishant Singh Jadon, who previously worked at TCS. The founders identified a significant inefficiency in the Indian trucking sector, where trucks often operated below their full capacity, leading to substantial losses. Their platform was designed to address this by connecting freight owners with transporters for inter-city haulage, creating a more organized and efficient ecosystem.

The business operated a B2B model, primarily targeting small and medium-sized enterprises (SMEs) and transport contractors. Its core service was a digital platform where companies could post their transport requirements, and transporters could bid for these loads. This reverse auction model was intended to provide customers with competitive pricing. TruckMandi's revenue was generated by charging a 2% commission to the transport vendors for each transaction facilitated through the platform. The platform allowed users to filter their needs by truck type, tonnage, and product category, and it also offered real-time vehicle tracking and cargo insurance.

In December 2015, TruckMandi secured under $2 million in a pre-Series A funding round from investors including Ritesh Dwivedy, the founder of JustEat India, and Ramakant Sharma, a founder of Livspace.com, among others. At its peak, the platform served around 500 partner companies, including major clients like Jindal Stainless Steel and DHL Supply Chain, and had approximately 1,000 transporters on its network. However, the company faced significant operational challenges, particularly the credit-driven nature of the logistics business, which created cash flow difficulties. In April 2016, co-founder Anurag Jain departed, and the company attempted to pivot its business model to focus more on technology and larger corporate clients. Despite these efforts, TruckMandi ceased operations around August 2016, becoming one of several logistics tech startups that shut down during that period due to the sector's inherent complexities and a difficult funding environment.

Keywords: TruckMandi, Fixinnov Technology, logistics marketplace, freight aggregation, inter-city trucking, Ankit Singh, Anurag Jain, Nishant Singh Jadon, online truck booking, freight transport, transport bidding platform, supply chain technology, road freight, India logistics, truck load board, real-time vehicle tracking, cargo services, SME logistics, B2B logistics, freight marketplace