Biography of Sheikh Samiullah: Founder and CEO of FastBeetle- Entrepreneur
Biography of by Sheikh Samiullah:
FastBeetle is a logistics and last-mile delivery company
founded in 2019 by Sheikh Samiullah and Abid Rashid Lone. Based in Srinagar,
Jammu and Kashmir, FastBeetle aims to revolutionize the logistics sector by
combining technology with traditional delivery methods. The company’s goal is
to offer fast, reliable, and efficient delivery services, especially for small
businesses, local merchants, and individual customers in the region.
The Founders' Journey
Sheikh Samiullah and Abid Rashid Lone both had experience in
separate companies before coming together to co-found FastBeetle. Their vision
was to create a logistics platform that not only caters to businesses but also
empowers local entrepreneurs and small-scale operations in Jammu and Kashmir.
Together, they combined their skills to set up FastBeetle, which would go on to
become the first startup from the region to raise significant funding.
Biography of by Sheikh Samiullah: Founder & CEO of FastBeetle- Entrepreneur/age/net worth/providing logistics solutions/FastBeetle story/Sheikh S
FastBeetle's Initial Growth
FastBeetle started by serving local online and offline
businesses in the valley, helping them manage their logistics needs. Within
just a few months of starting, FastBeetle expanded its services beyond local
deliveries to international shipments. This rapid growth reflected the
increasing demand for reliable and fast logistics solutions in the region, and
the company quickly became known for its fast and efficient delivery services.
Empowering Local Businesses
One of FastBeetle's key objectives is to empower local
businesses, especially small-scale entrepreneurs and women-run enterprises that
face challenges in delivering their products to customers. By providing
reliable logistics services, FastBeetle helps these businesses grow and reach
more customers, which in turn boosts the local economy. The company’s services
go beyond just deliveries, aiming to provide opportunities for growth and
welfare to small businesses.
Technology-Driven Logistics
FastBeetle’s logistics services are powered by a strong
technological platform. The company has integrated a mobile app and web
platform that allows businesses to track their shipments in real time. This
system ensures timely pickups and deliveries, making the process more
transparent and efficient for both businesses and their customers. The
tech-driven approach is what sets FastBeetle apart in a competitive logistics
market.
Pioneering in Kashmir's Logistics Sector
FastBeetle stands out as one of the first and fastest
logistics companies from Jammu and Kashmir to successfully integrate technology
into traditional delivery services. Their quick adaptation to local needs and
international shipping has made them a leader in the region’s logistics
industry. The company’s success is a testament to its founders’ ability to
identify a gap in the market and capitalize on it.
Pitching on Shark Tank India
In January 2023, FastBeetle became the first Kashmiri
business to pitch for funding on the popular television show, Shark Tank India.
The founders asked for ₹90 lakh for a 3% equity stake, valuing the company at
₹30 crore. This was a significant moment for the company, as it showcased their
potential to a nationwide audience and helped FastBeetle gain further
credibility in the business world.
The Sharks’ Investment Offer
During the pitch, FastBeetle impressed the sharks with their
growth, potential, and innovative approach. In response, the sharks, including
Aman Gupta and Peyush Bansal, offered ₹90 lakh for a 7.5% equity stake, valuing
the company at ₹12 crore. This deal was a major step forward for FastBeetle, as
the investment would help the company expand its operations and reach new
customers.
The Impact of the Investment
The investment from Shark Tank India was crucial for
FastBeetle's expansion plans. With the backing of seasoned investors like Aman
Gupta and Peyush Bansal, FastBeetle is now positioned to scale its operations,
enhance its technological infrastructure, and improve its service offerings.
The funding will also allow the company to hire more staff, invest in
marketing, and increase its footprint in both local and international markets.
FastBeetle's Future and Vision
Looking ahead, FastBeetle aims to continue its growth
trajectory by expanding its services to more regions and increasing its
customer base. With a strong focus on innovation, technology, and local
empowerment, the company is committed to making logistics more accessible and
efficient for businesses of all sizes. FastBeetle's vision is not just about
being a logistics provider but also about creating opportunities and driving
positive change in the region.
A timeline of FastBeetle's journey:
2019 – FastBeetle is founded by Sheikh Samiullah and Abid
Rashid Lone in Srinagar, Jammu & Kashmir.
2019 – FastBeetle begins serving local online and offline
businesses, providing logistics solutions.
2020 – FastBeetle expands services to international
shipments, experiencing rapid growth.
2020 – The company focuses on empowering local businesses,
especially small-scale entrepreneurs and women-run enterprises.
2021 – FastBeetle integrates a mobile app and web platform
to provide real-time shipment tracking and efficient logistics management.
2023 – FastBeetle becomes the first Kashmiri business to
pitch on Shark Tank India, seeking ₹90 lakh for 3% equity.
2023 – Sharks, including Aman Gupta and Peyush Bansal,
invest ₹90 lakh for a 7.5% stake, valuing the company at ₹12 crore.
2023 – With the investment, FastBeetle plans to scale
operations, improve tech infrastructure, and expand its market presence.
2024 – FastBeetle continues to grow, focusing on expanding
regionally and enhancing logistics accessibility for businesses of all sizes.
