Two Ghaziabad college friends started an e-mobility startup – earned Rs 1.5 Cr.

Founded in 2020, TriGo is a Noida-based EV-as-a-service platform with a mission to electrify last-mile deliveries in India.

The startup was founded by Shahnawaz Rao and Dilshad Bajaj—village friends who are both graduates of Bhagwati Institute of Technology & Science in Ghaziabad. 

The Founding Team

Shahnawaz’s background included sales in IT companies, notably Mahindra and Mahindra, while Dilshad had a stint in the banking sector, especially HDFC.

Talking to Startup Pedia in an interview, Shahnawaz Rao said, “I and Dilshad have been great friends since college. Like a lot of people, during that period, we would always discuss starting something of our own.”

But the duo decided to first gain some experience working with companies and meet again with renewed perspectives. However, fate had other plans and it probably wanted them to start their startup sooner.

In September 2020, Shahnawaz faced a layoff from his company and suddenly had no security. This also made Dilshad quit in the following months.

Shahnawaz Rao and Dilshad Bajaj
Shahnawaz Rao and Dilshad Bajaj

Shahnawaz says, “After I faced the layoff, I knew it was time to go back to the college dream and start my business along with Dilshad.

Talking about the lay off, Shahnawaz says he didn’t take it to his heart. “I saw it more as opportunity as anything else. I was finally being told my life itself – to go do something of my own. And Dilshad came along and became my co-founder.

And therefore, the inception of their entrepreneurial journey coincided with the challenges of the pandemic-induced lockdown. 

Shahnawaz faced a layoff in September 2020, prompting Dilshad to quit HDFC the following month. Together, they established SyncRush Solutions Pvt Ltd, later rebranded as TriGo, with an initial focus on IT recruitment.

Pivoting Towards EV Vehicle Fleet

TriGo Electric underwent a transformative pivot, transitioning from IT recruitment to becoming a tech-enabled last-mile delivery startup.

This shift was triggered by a significant project secured in December 2021 with BigBasket. 

TriGo Electric
TriGo Electric

Shahnawaz says, “We were heavily into recruiting for IT companies. Had all our processes in place, and we were actually doing really well. Our clients were happy with the tech solutions we had put in place, and hiring people in general was made smoother with SyncRush. But then we got a large project from BigBasket which made us look at other gaps in the market. We could see that we did have the resources and method to fulfill it.”

Recognizing a surge in individuals interested in becoming delivery riders but lacking their own vehicles, the founders harnessed their recruitment expertise to address this gap.

The innovative move involved replacing petrol bikes with electric two-wheelers, aligning with their commitment to a greener and more sustainable future.

TriGo Electric was incubated at IIM Lucknow Enterprise Incubation Center, evolving from the forefront of eco-friendly innovation. After rigorous testing and research, TriGo officially launched in July 2022.

The startup initially onboarded 60-70 riders during testing and started expanding their operations with one clear aim of making last-mile delivery in India smoother, greener, and more sustainable.

TriGo has evolved into a tech-enabled EV-as-a-service platform with a mission to revolutionize last-mile deliveries in India. Their aim is to replace petrol bikes with eBikes, fostering sustainable and economical delivery solutions. 

Today, TriGo Electric is at the forefront of the green revolution in the Indian logistics and mobility sector, leveraging its ecosystem of Electric Vehicles and EV-based technology.

Revenue and Funding

TriGo secured Rs 80 Lakhs funding in Indian Angels show on Jio Cinema
TriGo secured Rs 80 Lakhs funding in Indian Angels show on Jio Cinema

TriGo’s revenue model involves eCommerce platforms compensating the startup, which, in turn, pays its riders. 

According to an interview with Startup Pedia, since inception, TriGo has achieved a revenue of Rs 1.5 crore. In the next one year, the revenue projection is at a figure of Rupees 15 crore.

Notably, TriGo was initially bootstrapped but recently secured Rs 40 lakhs in equity and Rs 40 lakhs in debt through participation in Indian Angels on Jio Cinema.

Clientele and Growth

TriGo has established strategic tie-ups with industry giants such as BigBasket, Zepto, Zomato, JioMart and Tata 1mg etc. 

As they continue to scale, TriGo aims to reach a target of 10,000 vehicles within 2024, with future funding rounds in the pipeline to support this ambitious expansion.

Future Plans

TriGo Electric envisions a future where it plays a pivotal role in making India carbon-free through its innovative EV-based technology ecosystem. 

The startup remains committed to emission-free deliveries and is actively seeking additional funding to fuel its growth and contribute to a sustainable future. 

With an unwavering focus on innovation and environmental responsibility, TriGo Electric is set to redefine the last-mile delivery landscape in India.

FAQ

1. What is TriGo Electric’s mission?

TriGo Electric aims to electrify last-mile deliveries in India by providing a tech-enabled EV-as-a-service platform, replacing petrol bikes with electric two-wheelers for a greener and more sustainable future.

2. Who are the founders of TriGo Electric?

TriGo Electric was founded by Shahnawaz Rao and Dilshad Bajaj, both graduates of Bhagwati Institute of Technology & Science in Ghaziabad. Shahnawaz’s background includes sales in IT companies, notably Mahindra and Mahindra, while Dilshad had a stint in the banking sector, especially HDFC.

3. Who are TriGo’s strategic partners?

TriGo has forged strategic partnerships with industry giants such as BigBasket, Zepto, Zomato, JioMart, and Tata 1mg, underscoring its substantial growth and influence in the last-mile delivery sector as a leading EV-as-a-service platform.

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