NIDO Group, a manufacturer, system integrator and solutions provider for intralogistics mechanization and automation solutions, has expanded its operations across 12 new markets in the country. The group primarily focuses on automation solutions in Tier II and Tier III countries.
The group has onboarded 30 new clients and 40 new brands in the last six months and will deploy sorting and fulfillment, profiling, smart conveyor solutions, the group said in a statement.
The group will deploy its sorting and fulfillment solution named ASTRO for clients in Kanpur, Agra, Tiruchi, Guwahati, Ludhiana and Visakhapatnam.
The clients are from across e-commerce, D2C, ePharmacy, Cosmetics, Retail, Manufacturing & Cross Border express industries.
“In 2023, there was a significant surge in demand for warehouses across emerging markets in India. As one of the world’s fastest-growing economies, India experienced a substantial increase in consumer demand, particularly in tier 2 and 3 cities. With the sale of over 5 million square feet of warehousing space in 2023, a clear business opportunity arose for warehouse automation across these markets,” said Nirav Doshi, Managing Director at NIDO Group.
“Despite challenges in the broader industry landscape, NIDO Group has exhibited resilience and innovation, resulting in a 10% increase in topline figures. This impressive performance underscores our ambitious target of reaching Rs 700 crore in revenue by FY28.” said Doshi.
The group plans to onboard an additional 100 clients and brands in the financial year 2024-25.