Exclusive: Shipsy Raises $24 Mn From A91 Partners, Z3Partners

Exclusive: Logistics Startup Shipsy Raises $24 Mn From Z3 Partners, Sequoia Surge

SUMMARY

The funding round also saw participation from Sequoia Surge, and Info Edge’s Startup Investments Holdings

The fresh round of investment which seems to be the startup's Series B round comes almost 15 months after it had raised $6 Mn Series A

Shipsy allows businesses to optimise, automate, track, and simplify their ‘end-to-end’ logistics and supply chain operations

Gurugram-based SaaS logistics startup Shipsy is raising around $23.89 Mn in a fresh round of funding led by A91 Partners. Z3Partners, Sequoia’s Surge, and Info Edge’s Startup Investments Holdings, will also be participating in this round of funding.

As per the recent regulatory filings accessed by Inc42, the startup in an extraordinary general meeting held on February 15, 2022 has allotted 4,793 Series B CCPS among these investors.

The fresh round of investment which seems to be the startup’s Series B round comes almost 15 months after it had raised $6 Mn in Series A funding round. Back then, the round was led by Sequoia Capital India’s Surge. The startup also counts global logistics platform DTDC amongst its investors.

Founded in 2015 by four IIT alumni – Soham Chokshi, Dhruv Agarwal, Himanshu Gupta, and Sahil Arora – Shipsy through its platform helps enterprises manage their end-to-end logistics across multiple modes and also collaborate more efficiently with their vendors onboarded on the platform.

It allows businesses to optimise, automate, track, and simplify their ‘end-to-end’ logistics and supply chain operations.

The startup counts clients such as B2B ecommerce giant Udaan, foodtech startup Biriyani By Kilo, Tata Steel, Vedanta, JSW Steels, among others.

The startup claims that it has onboarded over 15,000 shippers through its network and have procured over $100 Mn worth of freight. On its website, the logistics startup has highlighted that it has over 45 major shipping lines integrated, and has a network of over 50 3rd party logistics companies.

The logistics sector in the country is witnessing an influx of funds. Since January 2021, about $1.8 Bn has been raised by logistics startups in India. Overall, the sector has seen the entry of 5 startups into the unicorn club.

Earlier this month, Xpressbees, a B2B logistics startup entered unicorn club after raising $300 Mn in its Series F round from Blackstone Growth, TPG Growth, and ChrysCapital. Another logistics startup Ecom Express is heading for a domestic IPO. Earlier this month, Inc42 had exclusively reported that the startup is eyeing for INR 4,860 Cr IPO in the coming months.

Gurugram-based logistics unicorn Delhivery was the first logistics startup to head for IPO. Though the startup is yet to go public, it has received SEBI nod for INR 7,640 Cr IPO.