Mumbai-based tech driven logistics firm Quifers has secured Rs 2 crore in a funding round led by Indian Angel Network (IAN) and Smile, a consumer internet and media platform. Vikas Agarwal, Vishal Khare and Sanjeev Kakkar have led this round of investment on behalf of IAN. Further, Agarwal will be joining the Quifers board. The venture plans to use current round of funding for business expansion in other cities, enhancing the technology platform and hiring talent to strengthen the core team.
Commenting on the investment, Vishal Khare, Lead IAN investor said, “'We looked at Quifers as a potential disruptor in a high growth area of technology driven logistics services and which will eventually go on to build a highly scalable model using their platform and analytics mechanism.”
Founded by Amit Mishra, Vaibhav Gupta, and Amit Bansal in April 2015, Quifers is a technology logistics firm that is revolutionizing goods transportation within a city. Platform use technology as the enabler to aggregate LCVs (Light Commercial Vehicles) to provide hassle-free and high speed goods transfer service to customers which includes both individual consumers as well as businesses.
“We are creating an ecosystem that seeks to provide advantages not only to the consumers and small and large business players, but also to the drivers and small transporters. Through strong back-end and mobile technology, Quifers offers standardised logistics services at a utilization that’s higher than that prevalent in an unorganized format. This not only drives the cost down by almost 25-30 percent but also leads to increased earnings for the commercial vehicle drivers,” Amit Mishra, Co-founder, Quifers.
With their primary focus on developing disruptive technology, Quifers aims to enable logistics to transcend into an uncomplicated and inexpensive affair. “Platform also provides reports and insights that further help businesses to optimise their last mile supply chain. We serve variety of market segments that includes not only the industry biggies but also small retailers/SMEs and individual consumers,” said Mishra
Startup provides services to numerous unorganized small retailers and is increasing their customer base by acquiring around 80-100 new customers every week, demand of which is matched up by adding 40-50 vehicles on weekly basis. As a part of its future plans, Quifers would be developing technology product that would provide entry into long-haul/inter-city/freight sector.
“The team’s focus on building a superior mobile tech platform will enable Quifers to establish itself as a strong brand in the last-mile transportation market,” said Rishabh Gupta, investment lead, Smile.
Apart from Quifers, Startups like Porter, Blowhorn, Shippr, Trucksfirst, Moovo and Karrier are also catering in the same space. They have begun to draw inventor attention towards themselves. Recently, Mumbai-based Porter raised $5.5 million from Sequoia Capital. Similarly, Shippr and Gurgaon-based Trucksfirst raised $500,000 and Rs 62 crore from SAIF Partners and Singapore Post respectively.