28.1 C
New Delhi
Sunday, September 25, 2022
HomeNewsRailRestro mulling to invest $20-30 million to boost logistics infra by FY23

RailRestro mulling to invest $20-30 million to boost logistics infra by FY23


Food tech company RailRestro will be investing $20-30 million for building a robust logistics infrastructure and will undertake rapid expansion in coverage with a focus on the east, RailRestro co-founder and director Manish Chandra said on 28 August.

Indian Railways’ authorised catering partner Indian Railway Catering and Tourism Corporation (IRCTC) will be engaged in the delivery of restaurant food to passengers directly into trains at railway stations of choice.

“The process has begun and currently 100 plus stations are covered under direct delivery in all top performing stations. By the end of this financial year, our delivery fleet will be available at all the serviceable stations,” Manish Chandra said.

ALSO READ: IRCTC withdraws tender to monetise customer data over privacy concerns

Adding more, Chandra said that the firm will be investing heavily into the model and $20-30 million is expected to be invested in building its own fleet at a majority of the serviceable stations.

Among other things, the firm claimed that currently it is offering food delivery service at about 450 stations as an aggregator. By the end of 2022, it was planning to double the number of serviceable stations, the firm said.

Chandra said that the impetus for the company-owned delivery fleet has reduced delivery failures sharply and right now some top 300 stations contribute 70-80 per cent of the orders of an average of 350. RailRestro said it has delivered 10 million meals to date, he added.

“More than 50 stations are covered under direct delivery in the East Zone. Some of the stations covered under our fleet are Patna, Hajipur, Malda Town, New Jalpaiguri, Asansol, Barauni, Howrah, Jharsuguda, Brahmpur, Guwahati and Katihar. We will be adding more stations aggressively for the region,” he said.

With PTI inputs.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less



Source link

- Advertisment -
- Advertisment -

Our Archieves

- Advertisment -