Hyderabad: Following the introduction of a first-class local delivery service for on-demand delivery services for businesses in Hyderabad, Pickkup intends to expand its services to the largest metropolitan cities of South Bengaluru and Chennai, with the exception of the business in Vijayawada and Visakhapatnam this year.
With the planning to operate in five cities in the next few months, Pickkup aims to achieve a revenue of 10-12 million by the next financial year 2021-22. The company plans to raise seed capital in the coming financial year to boost its expansion plans, including establishing operations in various cities and hiring new fleets. In the next two financial years, Pickkup aims to have operations in eight cities with an expected revenue of 50 million.
‘As many of our existing customers are also requesting delivery support in Bengaluru and Chennai, these cities are on our immediate agenda, followed by other top cities. We plan to raise up to $ 7 million, including the contribution of promoters to fund this expansion, ‘said Hemanth Chandra, founder and CEO of Pickkup.
The start-up is expected to be equal by June quarter and achieve gross profitability by 2021. It is expected to achieve 1 lakh orders per month by June 2021.
Source: Telangana Today