TraQiQ: Mimo delivery service adds new delivery offerings amidst rapid growth.

Rhea-AI Summary

TraQiQ, Inc. (OTC QB: TRIQ) has announced new delivery services through its subsidiary Mimo, including a highly anticipated intercity delivery and assistance with food and beverage deliveries across India. Since launching last-mile delivery services in Tier II and III cities, Mimo has completed over 2 million transactions and achieved a gross transaction value of $40 million. The company expects rapid growth in these new offerings and aims to increase revenue significantly this year.

Positive

• Launch of intercity delivery service and food and beverage deliveries.
• Mimo has completed over 2 million delivery transactions.
• Achieved over $40 million in gross transaction value since inception.
• Expectation of significant revenue growth due to new offerings.

Negative

• None.

Bellevue WA, April 05, 2021 (GLOBE NEWSWIRE) -- TraQiQ, Inc.’s (OTC QB: TRIQ) Mimo subsidiary announced the availability of two new delivery service offerings. The first one is a highly anticipated intercity delivery service. In addition, the Mimo team will start assisting clients with Food and Beverage deliveries across India. The company will also be rolling out its innovative new Wallet features to all delivery people to enable swift collection of funds from customers.

“Two years ago, Mimo started Last-mile delivery service in Tier II and Tier III cities across the country. Within a year of launching this offering, Mimo became the preferred B2B partner for a broad spectrum of customers.” said Lathika Regunathan, President of Mimo. “Based on customer demand, we expect these new offerings to grow rapidly and provide value to our customers”.

Mimo is, a leading provider of delivery and logistics solutions and has completed 2+ million delivery transactions, Mimo has 14,000 highly trained people making deliveries and fulfilling tasks across India. This nationwide network of task workers has completed tasks in the areas of document delivery, payment collection, background verification, tenant services and surveys.

Mimo has done over $40m in Gross Transaction Value since inception. The company is rapidly growing business in new segments around the country and expects to substantially increase its revenue this year.

About TraQiQ, Inc.
TraQiQ, Inc. is a global technology company with a suite of products designed to help identify customers, facilitate transactions/payments, and fulfill/deliver transactions. TraQiQ’s Mimo subsidiary provides delivery and task worker solutions across India. MIMO works with Banking, Financial, Logistics & Distribution companies, to take their products & services to semi-urban and rural India. For more information visit https://www.TraQiQ.com/.

Additional TraQiQ statement
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Cautionary Note Regarding Forward-Looking Statements 

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. The potential risks and uncertainties include, among others, that the reverse stock split may not have the intended benefits, that the Company may not meet applicable NASDAQ Capital Market requirements necessary for listing and/or NASDAQ may not approve the Company's listing application; and any capital raises. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements.

For inquiries:
TraQiQ, Inc.
Tel: +1 425-818-0560
Email: investors@TraQiQ.com

SOURCE TraQiQ, Inc.

FAQ

What new services has TraQiQ (TRIQ) announced?

TraQiQ has announced new intercity delivery services and food and beverage delivery assistance through its subsidiary Mimo.

How many delivery transactions has Mimo completed?

Mimo has completed over 2 million delivery transactions across India.

What is the gross transaction value achieved by Mimo?

Mimo has achieved over $40 million in gross transaction value since its inception.

What is the expected revenue growth for TraQiQ (TRIQ) this year?

TraQiQ expects to significantly increase its revenue this year due to the launch of new delivery offerings.