The Delhi NCR-based startup will use the fresh funds to boost its existing artificial intelligence tech stack and scale its operations globally
The startup last raised $15 Mn in a Series B round led by GEF Capital’s South Asia Fund back in 2021
The funding comes at a time when third party logistics in India is forecasted to reach $35.86 Bn this year and grow at a CAGR of 3% to $40.35 Bn by 2028
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Supply chain planning and logistics startup 3SC has secured $4 Mn (around INR 33 Cr) from its existing investor GEF Capital’s South Asia Growth Fund.
The Delhi NCR-based startup will use the fresh funds to boost its existing artificial intelligence tech stack and scale its operations globally.
In line with the strategy, it aims to enhance its AI-based SaaS offering, which is focused on Europe and the US as primary markets.
Founded by Lalit Das and Sarita Das in 2012, 3SC provides logistics services and supply chain analytics solutions to companies across pharma, FMCG, ecommerce and industrial industries. The startup offers solutions in planning, distribution, control tower and 4PL, leveraging AI/ML.
“..We aim to amplify our operations in the global markets, particularly in enhancing our SaaS offerings. The investment will accelerate our growth trajectory and strengthen our offerings while driving greater value for our clients and stakeholders. At 3SC we strive to be the best in our field and dominate the market,” Sarita Das commented on the fundraise.
The startup last raised $15 Mn in a Series B round led by GEF Capital’s South Asia Fund back in 2021. At that time, the startup was eyeing to improve its existing software to strengthen its foothold in the European and Southeast Asia market.
“This investment is an outcome of our confidence in the company’s leadership and innovative solutions. We believe in 3SC’s potential to make a meaningful impact in the industry, and we’re committed to assisting their growth and expansion efforts,” said GEF Capital’s managing partner Raj Pai.
The funding comes at a time when third party logistics is growing at a significant rate. According to a report by Statista, the revenue in the Third Party Logistics (3PL) market in India is forecasted to reach $35.86 Bn this year and grow at a CAGR of 3% to $40.35 Bn by 2028.
In this space, investor interest is also growing in tandem with this growth. For instance, truck aggregator LetsTransport bagged $22 Mn to fuel its logistics solutions offerings last month.
Further, logistics startup Shadowfax raised $100 Mn as a part of its Series E funding round led by TPG NewQuest earlier this year.
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