New Delhi, Feb 28 (IANS): Logistics startup Zipaworld announced its foray in the ocean freight booking segment and expects at least three-fold growth in its turnover in the next financial year (FY22) on the back of the expansion in its business.

Ambrish Kumar, Founder of Zipaworld and Group CEO of AAA 2 Innovate Private Ltd, said that the company also plans to come up with an intercity courier service in 2021, which would give further boost to its revenues.

He anticipates a multi-fold growth in logistics volumes with the latest entry into the ocean freight segment.

The startup established during the initial phase of the pandemic has already reached breakeven and so far as a revenue of around Rs 9 crore and Kumar expects to end this fiscal with a turnover of Rs 12 crore.

"Next financial year it may see three-fold or even a five-fold rise. We are also targeting Rs 50 crore turnover as we are going to get some fund too," Kumar said.

Noting that the company has so far been self-funded, he said that interest is being shown by several investors and funds.

"With the air and ocean freight booking enabled through a single platform, shippers, exporters, manufacturers and other logistics aspirants from every nook and corner of the country can now carry out their logistics requisites virtually and easily," he said.

Under the 'Make in India' initiative, the government aims to increase the share of the manufacturing sector in the GDP. As access to the global markets must tag along with the growth of manufacturing sector, seamless logistics system must also be in place, said the company statement.

Zipaworld's ocean platform like its air counterpart provides a digital gateway to book all kinds of products, like pharmaceuticals, APIs and medical goods, textiles, farm produces, perishable goods, automobiles and spares, leather goods, handicrafts, machinery parts, odd and heavy cargo and so on.