Delhi-based on demand logistics startup Qikship has raised $200K in an angel round of funding.
Qikship was founded by Vikrant Pathak, Ex IES (IIT Delhi & HEC Paris) and Gaurav Tyagi, Ex Zomato Sales head India in September 2015. It is an App/web based on-demand logistics platform that enables users to ship anything anywhere from the comfort of home/office.
The startup provides free pick up and packaging to the customers within 45 minutes. Once a customer places a shipment request, app gives the notification about the estimated delivery of the shipment to destinations with full point to point tracking on the app.
Related Article: Funding Galore: Startup Fundings Of The Week [27 July-1 August]
Currently, Qikship is doing over 300-400 shipments per day with an average ticket size of INR 200/-. According to the company, the major part of its business comes from online sellers and SMEs.
The funds raised in this round will be used to build next generation technology for simplifying the logistics and create technology packed solutions, expansion to Gurgaon and Delhi, hiring people in sales & Operations, tech and pickup agents. Currently, it has a team of 50 people out of which 30 are pick up agents. It plans to hire over 150 pickup agent in next two months to establish its operation in Delhi and Gurgaon initially and reach per day transaction of 3000- 3500.
According to a report by Research and Markets, Indian logistics market is expected to grow at a CAGR of 12.17% by 2020, driven by the growth in the manufacturing, retail, FMCG and ecommerce sectors, while the third-party logistics expected to be worth $301.89 Bn by 2020.
Recently in this space, Mumbai-based ethnic etailer, Craftsvilla, had acquired on-demand shipping service provider startup Sendd; Delhivery and Tracxn Labs, had invested over $5 Mn in logistics services startup Parcelled and Bangalore-based Opinio, had secured $7 Mn in its Series A funding from logistics company, Delhivery, Sands Capital and Accel Partners.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.