With a mission to provide technology driven customized logistics solutions, WOW Express is represented by a team that has over 5 decades of experience across e-fillfillment, e-commerce, customer service and last mile delivery. The logistic company has aggressive growth plans and offers reliable, trackable and affordable services in its segment.
Replying to Manish Joshi of NewsBarons, Sandeep Padoshi, Co-Founder & Director, WOW Express informs ‘Ecommerce companies are expanding their reach to tier 1 and tier 2 sectors and this in turn is helping logistics companies to expand their reach’.
NB: What is your outlook for 2018?
Sandeep: The growth of ecommerce has paved the way for more opportunities for the logistics sector. During FY 2016-17, ecommerce sales reached $16 billion with a projection of a seven fold growth within the next two fiscals. Online commerce sales are expected to cross $120 billion by 2020 and ecommerce focused logistics companies will benefit from this.
Ecommerce companies are expanding their reach to tier 1 and tier 2 sectors and this in turn is helping logistics companies to expand their reach. Ecommerce focused logistics company are also providing warehousing and e-fulfillment service which further helps to increase their growth.
NB: Brief us about your expansion plans?
Sandeep: We plan to be in 100 cities in the next one year. We have also launched C2C courier services along with the launch of WOW Now, a technology enabled logistics service that is reliable and offers domestic and international courier services at affordable prices.
WOW Express has also ventured in the healthcare sector with WOW Health Express that offers a technology enabled logistics solution for medicine deliveries, hospital supplies and diagnostic facilities.
We plan to open 80 new branches in the next 1 year, thereby, taking the total number of our branches to 150.
NB: What are your fund raising plans? How much funds have you raised till date?
Sandeep: We have, till date, raised $ 3 million as a part of our seed and bridge rounds of funding. We are now looking at raising $ 10 to 12 million dollars as a ‘Series A’ round of funding.
NB: Your growth target for the coming fiscal year?
Sandeep: We target to achieve revenues in the range of INR 60 crores for the next fiscal year.