1. Aaveg takes cue from Ola, Uber on corporate transportation in big cities

Aaveg takes cue from Ola, Uber on corporate transportation in big cities

Traffic congestion, especially during peak office hours, can be a nightmare for those residing in the metros. However, a niche start-up is taking cue from Ola and Uber to innovate and organise corporate transportation across the country.

By: | Published: June 28, 2017 3:28 AM
Aaveg, Ola, Uber, corporate transportation, Ashok Vashist, Aaveg Management, IT, e-commerce, BPO & KPO, banking, retail, manufacturing, PSU Aaveg has taken a cue from Ola and Uber to organise corporate transportation in some of the big cities.

Traffic congestion, especially during peak office hours, can be a nightmare for those residing in the metros. However, a niche start-up is taking cue from Ola and Uber to innovate and organise corporate transportation across the country. Aaveg Management Services provides end-to-end corporate mobility solutions with specialisation in ground transportation that benefits both companies and its employees, stresses Ashok Vashist, the founder & CEO of this New Delhi-based venture. “We have been able to save a lot of transportation cost for our customers.” Be it leasing, business rentals, employee transportation or pool cars, the company addresses the employee transportation requirements of companies, and provides effective solutions based on the same. “Our primary objective is to reduce carbon dioxide emissions, reduce traffic congestion and facilitate optimum utilisation of resources,” says Vashist, who is also an adventure sports enthusiast; he is a certified scuba diver and loves to explore the
country by road.

Aaveg was founded in 2015 by Vashist, who was inspired to create this unique venture following a realisation that India’s growing working-age population would require better transportation services in the near future. With most young professionals gravitating towards the corporate sector due to the possibility of better job opportunities, he felt this was the perfect time to introduce a new service that could help in effectively managing the employee transportation vertical across the Indian corporate sector.

Vashist explains: “Aaveg caters to companies across multifarious industries like IT, e-commerce, BPO & KPO, banking, retail, manufacturing, PSU, and travel management companies. The company has witnessed tremendously overwhelming traction from the market, and is seeing positive growth in its overall business,” he adds. Aaveg’s total revenue in FY2015-16 stood at Rs 1.03 crore; between March 2016 to September 2016, it has steadily increased to Rs 4.7 crore. While the initial investments came from the savings of its founder from his earlier company, it has signed up with some large corporate accounts as its premier clientele, and is funded through the internal accruals.

Although the company has been approached by several investors, it is still contemplating its future course of action related to funding. Aaveg manages the entire activity chain including employee transportation, leasing to business rental and advising, managing and procuring the transport requirement of any company. Vashist is confident that every third vehicle will be an Aaveg vehicle in the years to come. He also hopes to achieve maximum reach within any type of commercial vehicle, whether it is owned, managed, or available on their platform.

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