Bengaluru-based MTAP has been on a mission to solve the transportation needs of corporates, schools and other organisations. The startup does not aggregate vehicles; it has a software platform that corporates and fleet owners can use to manage their transportation needs, starting from variable employee pickup and drop, school children pickup and drop, managing transportation budgets and additional analytics to optimise how fleets work.
The cost for organisations turns out to be approximately a dollar per user per month, irrespective of whether it is an employee or a student and their time of commute in a day. “We charge them between 1-2% on a subscription basis. Our clients have been able to see 10-30% in cost savings depending on how big the organisation is and how manual their transportation operations are,” says Srinivas Chitturi, CEO and co-founder, MTAP Technologies. “For schools, safety becomes a priority and we have our own system to ensure passenger safety, all the while saving costs,” he adds.
Among MTAP’s prominent clients are SAP, TESCO and EY besides a number of schools. With an initial funding of around $1.5 million, the company has remained cash positive and with the pandemic, revenue levels came down to around 45%, last year, which has recently recovered to around 60% of pre-Covid levels.
“Covid was a major blow to the transportation industry. Since we are not an aggregator and also have operations outside India, we were able to continue the business and by this year end we will match our finances to pre-Covid levels,” says Chitturi.
The startup’s pre-Covid revenue stood at around `13 crore and Chitturi plans to raise more funds to bring out new products and expand to more markets. “One of the things that helped us during the pandemic was a chance to roll out new products, features and services relevant to the situation. This diversification is what will help us prepare for the future in case of a similar situation,” says Chitturi.
In addition to offering technology to schools and businesses, the startup also offers the technology to fleet owners. According to Chitturi, some schools demand that the fleet owners come with their own tech. “For such fleet owners we modify our products to their needs. However, that trend has just started. Most of our clients are still large businesses and schools,” says Chitturi. “We also are looking to make our platform a marketplace, so that customers can look beyond people transportation,” he adds, talking about his plans for diversification into goods/ cargo transportation across verticals.