Novire’s automotive technology to increase the profitability of the transport sector
Developed by female entrepreneur Uma Rajan, the city of Novire Technologies has introduced unique vehicle tracking technology to increase profitability in the transportation industry. This innovative technology helps reduce vehicle inactivity time, which improves overall efficiency.
A graduate of Nizam College in Hyderabad, Uma obtained her Masters degree from the Tata Institute in Mumbai before pursuing her career in entrepreneurship. She later headed Seven Hills Private Equity Group. She has honed her business and investing skills by investing in various strategies across the globe including private equity, troubled investing and most importantly new business incubation. Uma saw other businesses grow and benefit from her support, and decided to be hers. She made a great team and Novire and Autoplant were born.
The vehicle tracking technology developed by Novire has found a large customer base with group companies Aditya Birla, UltraTech Cement, Vedanta, ACC, Asian Paints, Hindustan Unilever Ltd and Vadilal to name a few.
“The technology is unique and helps improve the efficiency of vehicles on the road by reducing idle time. With this technology, one can easily track the journey time, distance traveled and time to complete the journey. So if the idle time is too high, as happens in some cases, the vehicle can be diverted to perform other nearby missions and thus improve efficiency, ”said Rajan.
The company has developed an aggressive growth plan to become a leader in the transportation and shipping industry very soon.
Rajan leads the business development of the company with the team made up of Hiten D Varia, Suresh Sachdev and Prabhu Natrajan who together led the operations of the company which is now valued at Rs 100 crore.
“Consider a situation where an empty truck is waiting in front of a cement plant; the driver has no idea how long it takes to load. Soon he learns that he has to wait around 20 hours. If the truck owner had known earlier, he would have planned smaller jobs so the truck would not idle. Now, thanks to a new system, the truck owner knows the approximate wait time and deploys the resources accordingly. The factory also schedules loading more efficiently to reduce the waiting time to less than two hours, thus avoiding backups and confusion at its facilities, ”said Natrajan.
Autoplant aims to be a pioneer in the supply chain operations of factories around the world. It has customers in Thailand, the Far East and West Asia and is expanding its business. Together, the two companies have seen their shares increase exponentially and are planning a valuation of Rs 250 crore by 2017.