Inc42: Logistics Tech Startup Shipsy Received Fresh Funding of $24M
Shipsy, a software-as-a-service (SaaS) logistics platform, raised $24M as part of its recent Series B. The round was co-led by A91 Partners and Z3Partners, with participation from existing backers Info Edge’s and Sequoia’s Surge. The fresh capital will allow the company to further strengthen its position in the Middle East and Southeast Asian markets, while also accelerating its global expansion.
Founded in 2015 by 4 Indian Institute of Technology (IIT) alumni, Shipsy helps businesses digitize and automate their “end-to-end” operations. As of today, the Gurugram-based startup claims to have built a network of over 15,000 shippers, 50 third-party logistics firms and integrated 45 major shipping lines. Additionally, it is said to be procuring over 100 million freight per month and optimizing the movement of more than two million packages every single day.
As of today, Shipsy’s clients include B2B giants such as Udaan, Tata Steel, Vedanta, JSW Steels and food tech startup Biryani by Kilo. “We are thrilled to partner with seasoned investors with a common vision to transform the global logistics industry using a technology-first approach. Their continued support strengthens our mission of enabling customers to achieve sustainable business and logistics excellence,” stated Soham Chokshi, CEO and Co-Founder of Shipsy.
For more exclusive reports, insights, and interviews on the latest updates in e-commerce and logistics, follow us on LinkedIn or join our community as a member.