Funding Roundup: Craft.co, Freightify, Yebo Fresh and Others Close Early-Stage Deals

It has been a great start of the year for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements:

Freightify Series A Funding

Freightify, a freight rate management SaaS platform based in Singapore, announced the completion of its $12MSeries A led by Sequoia Capital India. According to multiple sources, the funds will go towards improving the platform's offerings, adding new features, increasing global sales and marketing efforts, establishing partnerships, and growing into new regions and industries. The company also has plans to expand its workforce, particularly in Chennai, India.

• Year Founded: 2016

• Founder(s): Raghavendran Viswanathan

• Location: Singapore, Singapore

• Latest Funding: $12M Series A

• Lead Investor(s): Sequoia Capital India

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Paperstack Equity + Debt Financing

Paperstack is a startup that offers financial insights and working capital to e-commerce sellers around the world. Founded in 2021, the company works with private-label brands that sell premium products on platforms like Amazon, Etsy and Shopify. With the infusion of $9M from the latest financing round, Paperstack is looking to expand its e-commerce lending services and fill a void left by other players who are reducing their operations in recent years.

• Year Founded: 2021

• Founder(s): Assel Beglinova and Vadim Lidich

• Location: New York, United States

• Latest Funding: $9M Equity + Debt

• Lead Investor(s): Star Strong Capital

Yebo Fresh Pre-Series A Funding

South African e-commerce startup Yebo Fresh, which provides fresh groceries and food via its order-to-delivery service, has secured a pre-Series A equity investment of $4.5M. As of today, Yebo Fresh delivers to over 25 townships in Cape Town and Johannesburg. The new funding will enable the firm to grow into new product categories, enhance its physical and technical infrastructure, and explore further partnership opportunities with strategic players in the market.

• Year Founded: 2018

• Founder(s): Jessica Boonstra

• Location: Cape Town, South Africa

• Latest Funding: $4.5M Pre-Series A

• Lead Investor(s): Enza Capital

ShopUp Debt Financing

B2B e-commerce platform ShopUp closed a $30Mdebt financing round consisting of $20M from Lendable, a global provider of debt financing to fintech companies in emerging markets, and $10M from The City Bank, a major commercial bank in Bangladesh. According to the announcement, the funds will be utilized to support expansion and improve ShopUp's supply chain operations, bringing benefits to small businesses and consumers throughout the country.

• Year Founded: 2016

• Founder(s): Afeef Zaman, Ataur Rahim Chowdhury and Siffat Sarwar

• Location: Dhaka, Bangladesh

• Latest Funding: $30M Debt Financing

• Lead Investor(s): Lendable and The City Bank

Craft.co Series B Funding

Enterprise supply chain intelligence firm Craft.co has raised $32M in a Series B led by BAM Elevate, the venture capital arm of Balyasny Asset Management LLC. In the past year alone, the company has incorporated multi-dimensional supplier data into its offerings, further developed its cloud-based collaboration tools among other things. The proceeds from the recent funding round will help enhance its go-to-market strategies, while simultaneously accelerating its R&D efforts to broaden the capabilities of its platform.

• Year Founded: 2014

• Founder(s): Artem Litvinov and Ilya Levtov

• Location: San Francisco, United States 

• Latest Funding: $32M Series B

• Lead Investor(s): BAM Elevate

WhyQ Series A2 Funding 

WhyQ, a startup dedicated to digitizing micro-SMEs, has successfully obtained an additional $1.08M in an extended Series A2 round. With this new funding, WhyQ intends to broaden its digital platform and support the growth of small businesses in both Singapore and Malaysia. Furthermore, it will also concentrate on enhancing current offerings and creating new ones to aid small businesses in becoming more competitive in the digital marketplace.

• Year Founded: 2017

• Founder(s): Rishabh Singhvi and Varun Saraf

• Location: Singapore, Singapore

• Latest Funding: $1.08M Series A1

• Lead Investor(s): Kairos Capital Group

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