Mumbai-based Quifers, a tech-driven logistics company focusing on the light commercial vehicle segment, has raised $307K (INR 2 Cr) led by Indian Angel Network (IAN) and consumer internet and media platform Smile Group.
Investors Vikas Agarwal, Vishal Khare and Sanjeev Kakkar led this round of investment on behalf of IAN. As per the company statement, Vikas Agarwal will also be joining the Quifers board.
The startup plans to use the proceeds of funding for expediting business expansion to other cities, enhancing the technology platform of its products & services and hiring talent to strengthen its core team.
As a part of its future plans, Quifers would be developing technology product that would provide entry into long-haul/inter-city/freight sector.
Amit Mishra, co-founder at Quifers said, “We are creating an eco-system that seeks to provide advantages not only to the consumers and small & large business players, but also to the drivers and small transporters. Quifers provides reports and insights that helps businesses to optimize their last mile supply chain.”
He added, “Having IAN & Smile as our investors has proved a beneficial deal for us as they provide a diversified expertise that strengthens our mentorship network to a great extent.”