Logistics Startup Quifers Raises $307K From IAN & Smile

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.”

Quifers was set up by ex-employees of Flipkart and Snapdeal, Amit Mishra, Amit Bansal and Vaibhav Gupta. The startup’s core team also includes Vikram Dhaval, an IIT Roorkee Computer Science graduate, has worked as a computer scientist with a leading product firm.

With their primary focus on developing disruptive technology, Quifers aims to enable logistics to transcend into an uncomplicated and inexpensive affair.

The company is aggregating LCVs (Light Commercial Vehicles) through their platform so as to provide hassle-free and high speed goods transfer service to the customers.

Quifers provides services to numerous unorganized small retailers, and is increasing their customer base by acquiring around 80-100 new customers every week. To match this demand, it is adding 40-50 vehicles on weekly basis.

Through strong back-end and mobile technology, Quifers offers standardised logistics services at a utilisation that is higher than which is prevalent in an unorganized format. This not only drives the cost down by almost 25-30%, but also leads to increased earnings for the commercial vehicle drivers.

Quifers serve variety of market segments that includes not only the industry biggies, but also small retailers/SMEs and individual consumers.

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