 "Novire's auto technology to increase profitability of transport sector")
Developed by woman entrepreneur Uma Rajan, city-based Novire Technologies has introduced a unique vehicle tracking technology for increasing profitability in transport sector. This innovative technology helps reduce idle time of the vehicle resulting into an improvement in their overall efficiency.
A graduate from Nizam College, Hyderabad, Uma completed her Master’s degree from the Tata Institute in Mumbai before pursuing her career in entrepreneurship. Later, she spearheaded Seven Hills Private Equity Group. She honed her business and investment skills investing in various strategies worldwide, including private equity, distressed investing, and, most importantly, incubating new companies. Uma saw other companies grow and profit with her backing, and decided to be her own. She put together a great team and Novire and Autoplant were born.
The vehicle tracking technology developed by Novire has found a wide clientele base with Aditya Birla Group companies, UltraTech Cement, Vedanta, ACC, Asian Paints, Hindustan Unilever Ltd, and Vadilal to name a few.
“The technology is unique which helps improve efficiency of vehicles plying on the road by reducing idle time. Through this technology, one can easily track the travel time, distance travelled and the time lag to complete the journey. So, in case the idle time is too high as happens in some cases, then the vehicle can be diverted to complete other assignments in the vicinity and thus, improve efficiency,” said Rajan.
The company has chalked out an aggressive growth plans to become among the leaders in the transportation and shipping industry very soon.
Rajan heads the company’s business development along with the team comprises Hiten D Varia, Suresh Sachdev and Prabhu Natrajan together steered operations of the company which is today valued at Rs 100 crore.
“Consider a situation when an empty truck waits in front of a cement factory; the driver has no idea about the loading time. Soon, he learns he has to wait for about 20 hours. If the truck owner had known this earlier, he would have scheduled some smaller jobs so that the truck is not idle. Now, thanks to a new system, the truck owner knows the approximate waiting time and deploys resources accordingly. The factory too schedules loading more effectively to reduce waiting time to less than two hours, preventing backups and confusion at its facilities,” said Natrajan.
Autoplant aims to be a pioneer in the supply chain operations of factories worldwide. It has a customer base in Thailand, the Far East and the West Asia and is expanding operations. Put together, both companies have seen their stock rise exponentially and are looking at a valuation of Rs 250 crore by 2017.
