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Bangalore Based Shippr Raises Seed Fund From i2india Venture Factory

Bangalore Based Shippr Raises Seed Fund From i2india Venture Factory

Bangalore-based Shippr, a logistic solution startup has raised seed fund of $500k from i2india Venture Factory. This fund will be used for company’s expansion into more cities. Shippr currently operates in Bangalore and Chennai.

Commenting on the fundraise, Anup Viswanathan, principal investee at i2india said “We are excited about Shippr and the impact it is has made on a segment that is highly unorganized. The market is ripe for disruption, and Shippr is well positioned to be a market leader. The vision of the team fits into the intersection of three trends that are of interest to us – mobility, urbanization, and consumption inversion.”

Founded in 2014 by Rohit Fernandes and Phaneendra Hegde, Shippr is a company that helps in organizing, packages and presenting goods to the consumer in simplest form. In simple terms, it helps in finding solution for moving your furniture within the city or moving heavy machinery around the country.

i2India Venture Factory is an incubator and venture capital center, which provides initial funding of $10 Mn from Imperial Innovations, CMG Partners of UK, and Tata Sons.

Other companies operating in the same space is TheKarrier; raised $234k from Sol Primero, Outbox Ventures and Nikunj Jain. It also competes indirectly with Delhivery and LogiNext.

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