Pune Based Logistics Startup Farishtey Aims to be an Rs 10,000 Cr Company
Founded by Aniket Agarwal, Pune-based Farishtey encompasses delivery service that delivers anything and anywhere. The expertise extends from grocery picking, giving and collecting clothes from laundry, medical, paying bills and plethora of similar tasks.
Errands, on their own, are very small but when account for the time spent in undertaking the travel to do them, the traffic or the fatigue of waiting in a queue or the effort required by the task exceeds the value of the errands. As an asset-based startup, the essence of time value is given on high priority. Therefore, Farishtey offers their customers service to deliver almost anything to everything, from anywhere to everywhere within Pune in the least possible time.
With 15,000+ deliveries in short span, Farishtey has been able to graph a provable traction in the market with clients which include Ferns n Petals, Smokin’ Joe’s, Hyderabad House, RushHrs, Subway, New Poona Bakery, Punjabi Swad, The Breakfast Box, Greens n Grills, Apyayan and much more.
Farishtey works on a premium revenue model where the user pays per order executed. The major business in terms of volume is generated through B2C sources such as restaurants and businesses. However, Farishtey looks forward to a gradual drift towards more C2C services as the Average Order Value (AOV) in this model is substantially higher.
The startup is bootstrapped and is 100% funded by the founder. It is looking to raise an angel round - $200,000 to $300,000.
Since the service price being very low to the end consumer this startup targets a major chunk of the population in the Indian markets. The major chunk of the users for Farishtey services shall be adults from urban dwellings, with a pan India expansion having major cities on board. Farishtey has an estimated serviceable population of 200 million potential customers which is regularly growing every year.
Farishtey aims to be an INR 10,000 Crore Company. The Pilot Model of Farishtey commenced on 12th August 2016 with lots of ups and downs in the first quarter, since then the current graph has dramatically changed. The growth upscale to 40% in a month since Feb 2017. The startup looks forward to creating an on-field employment to 300 riders in Pune in a span of 1 year and as it grows to other cities, employment growth to multiply accordingly. Catering to the very necessary-non-luxury service basic needs, Farishtey anticipates creating a monthly revenue of Rs. 85 Lakhs+ with 300 riders in Pune working on average capacities. Considering this model to be replicated in 15 other cities in India, Farishtey anticipates generating revenue of Rs. 15 to 18 Crore of monthly sales pan India with direct employment to 3000+ riders on the field and about 40 administrative teams. In the second phase, the startup aims to get into tier 2 cities as well, identifying 40 business able towns in the country providing 20 riders in each town. The target is to achieve a monthly sale of Rs. 2 to Rs. 2.5 Crore. Major business anticipation is from non-business clients where the average order value is 200% higher than restaurants and store owners.
In the span of next 3 years, Farishtey’s goal is to generate annual sales of Rs. 300 Crore to Rs. 350 Crore with pan India employment of over 5000 riders.
Too many problems and very little time, Farishtey comes as an angel in disguise to solve all your problems. Your funding towards this disruptive idea will save lives together.
They are now amongst the top 32 Catapooolt Changemakers Season 2 and are trying to bring a change in their ideas – ‘we deliver anything anywhere’. You too can be a part of their initiative by backing them on - catapooolt.com.
