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
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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