The aggregator model is one of the most widely adopted business models in the country, especially in the transportation sector, and is eventually giving rise to on-demand commuting services that facilitate hassle-free travel to commuters from all walks of life. Within this realm, while some have decided to stay within their expertise, a select few like Jugnoo have chosen to capitalize on the aggregator approach, and create a unique enterprise that provides multiple services.
From an auto-rickshaw aggregator to becoming a hyperlocal on-demand multi-service provider, Jugnoo has evolved over the years in terms of its business operations, technical advancements, and verticals. Founded by Samar Singla and Chinmay Agarwal, the company thrives on the strong work experience of its team, while the USP of the company lies in its business model. The company’s approach to utilize available inventory across so many verticals, is what sets it apart from other players in the industry.
Launched in November, 2014, and headquartered in Chandigarh, Jugnoo has become one of the leading auto-rickshaw aggregators in the country, and has subsequently expanded its bouquet of services to other verticals. Apart from its core business of auto-rickshaw aggregation, the company now offers hyperlocal logistics in B2B & B2C domains with its services like Fresh, Meals, Menus, and Jugnoo Delivery. It has also recently launched Jugnoo cabs services In Gurugram.
Jugnoo’s journey has been an interesting one since its inception. The company commenced operations at a time when aggregation was still a new concept among many, especially in transportation. Although, most auto-rickshaw drivers these days already own and use a smartphone, there were some who were initially reluctant to adopt a technology based mobile application as a means to earn their daily livelihood.
To convince them, both Samar Singla and Chinmay Agarwal traveled in auto-rickshaws, and personally convinced those drivers to try the concept. They also encouraged them to understand the various advantages of integrating technology in their routine activities, and how it could benefit them in the long run. Finally, upon gaining a sizable network of auto-rickshaws, the next step involved convincing customers to use the Jugnoo app.
ALSO READ: TOP 10 CHALLENGES STARTUP WILL FACE IN 2017?
The Jugnoo app was first launched at the PECFEST of PEC University of Technology, Chandigarh, where people from the city were given free auto rides, which proved to be a phenomenal success. This initial response motivated Jugnoo’s founders to systematize the highly unorganized auto-rickshaw sector by aggregating them through technology, thereby making it more efficient.
Going by aforementioned facts, it is evident that hard work and persistence are key to achieving success in life, and it certainly holds true for both Samar Singla and Chinmay Agarwal.
Samar Singla serves as the Founder and CEO of the company. Born with an entrepreneurial bent of mind, this is his third successful commercial venture. A serial entrepreneur, Samar sold his first company, and chased it with his second venture – Click Labs in 2011, prior to conceptualizing and launching Jugnoo. As a technology fanatic, he enjoys envisaging and coming up with various ideas that can prove to be an advantage for people, and make their day-to-day activities easier by integrating technology in them.
Pic: Samar Singla, the Founder and CEO of the Jugnoo
Samar’s business partner Chinmay Agarwal – Co-founder and Chief Operations Officer at Jugnoo shares his zeal for all things technology-based. The techy completed his B. Tech in Electrical Engineering from IIT Delhi, and went on to do a Joint Masters in Advanced Robotics on Erasmus Mundus scholarship from the Ecole Centrale Nantes, France, and University of Genoa, Italy. He eventually embarked on his entrepreneurship journey as co-founder and CTO at Click Labs, a profitable SaaS technology solution provider, before becoming a part of Jugnoo. In his current position, Chinmay performs a comprehensive role in spearheading both product and operations of the company.
Jugnoo is currently rendering its services in around 40 cities in India, and trending at 50,000 daily transactions. It has over 5 million registered users and 15,000 auto-rickshaws empaneled under its brand. The company has witnessed a consistent month on month growth of 20%. In terms of funding, the company has raised a total of USD 16 million in two rounds of funding from investors like Paytm and Snow Leopard.
One of the key fundamentals at Jugnoo has been to focus on building a sustainable business model rather than burning money to acquire customers. This vision has enabled the team to focus on delivering the best services to its customers who are not only looking at discounts but appreciate the long term relationship with the brand. So far, all the new verticals launched by Jugnoo in hyper-local space have been unit economics profitable from day one.
At present, the Rides vertical of Jugnoo has the maximum reach, operating in 35 cities. Jugnoo Delivery is operational in 19 cities, Menus in 20 cities, Meals in 3 cities and Fresh is present only in Chandigarh as of now. A few smaller cities are usually taken as pilot markets and Jugnoo focuses on optimising all processes before moving the campaigns to a national launch stage. The company intends to further extend its reach in India, and replicate these successful launches across all the cities where Jugnoo is present. Its mission is to become a prominent brand in the on-demand hyper-local segment in Tier II and Tier III cities in the near future and uplift millions of people socially and economically by providing them better income and life quality.