Way back in 2014 Srini was heading the BD team for Samsung Enterprise Mobility and Gaurav was his counterpart for Samsung Consumer Electronics. They happened to start the MFI cross sell business for Samsung, which involved selling Samsung products on easy weekly installments to members of various Microfinance Companies. The business beat all forecasts and it grew to contribute to almost 40% of their entire business.
Initially, the business model involved getting orders from MFI customers and getting the items delivered to the branches of the MFI companies. It was a business that had very less operational expenses. But eventually, due to regulatory issues the deliveries started to get shifted from Branches to customers doorsteps. This opened up a huge logistical nightmare for partners who had a tough time getting to the customer doorsteps as they were always in remote rural locations.
That was a ‘Eureka Moment.’ A eureka moment for these two friends who started working on a concept of not only reaching these rural locations but also providing services akin to what urban customers are entitled. They researched and travelled across the country to assess and formalize the best possible way to achieve this and eventually in Nov 2017 they took the plunge and started 72 Networks.
Our Co-Founders, Srinivas L. and Gaurav Ahlawat took the leap of faith in November 2017. They established 72 Networks with the help of a third founder, Gagan Chaddha, who has a keen eye on identifying successful business opportunities. 72 Networks was created with a vision of delivering consumer durables to the end customers in the most remote locations of rural India.
The first six months mostly constituted of building the infrastructure capabilities and the initial team. While being headquartered in Gurgaon, 72 Networks humbly began its operation with Kerala in 2018, for Bharat Financial Inclusion Ltd., (BFIL). What began with a single state and a single warehouse, augmented to 11 states and 54 warehouses in just 7 months. After BFIL, we added Fullerton India, Spandana, Satin, Arohan and Midland to our increasing list. Our industrious team also expanded from three people to more than 200 employees in a few months.
This enterprise is built on compassion. Our employee-centric policies helped us to achieve a less than 1% attrition rate to date. We believe in a diverse workforce and equal opportunities for everyone. Most of our esteemed designations are held by women. Our MIS, Accounts and Customer Service are all headed by sedulous women.
We did grow a lot on the technology front as well. We started with basic warehouse management software. Now we use a full-fledged last mile delivery platform with AI and ML being honed to become the backbone of our Tech infrastructure.
72 Networks has its own indigenous CRM software, Pragati CRM. It is a SAAS based platform that gives end to end process support. It supports sales management, delivers feedback and insights and facilitates team communication. This CRM software allows all our operations to be carried from a single platform and hence, integrates uniformity and bring consistency in our work.
72 Networks is responsible for employment generation in the most remote and outback areas of rural India. We provide these people with ample opportunities to create a stable income. Economic stability facilitates societal respect and a flourishing lifestyle. We believe in creating our social footprint. The last 22 months have been an amazing journey for 72 Networks. We have delivered in almost 12,000 Pin codes and over 1.9 Lakhs customers and counting.