Get All Access for $5/mo

Logistic startup Quifers help businesses optimise last mile supply chain Quifers, a technology logistics firm that is revolutionizing goods transportation within a city.

By Entrepreneur India

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

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.


The Key to Real Innovation Is Cross-Pollination — Here Are 10 Ways to Implement It in Your Business

Transform your business with this unique approach to sparking innovation.

Growth Strategies

AMD Confident About Increasing Market Share In India

The semiconductor company is positive about the business environment in India on the back of growing investments in data centers and AI, Cloud repatriation, as well as technology refresh taking place across companies on both server side and client devices

Starting a Business

Spend Less Time Worrying About Your Company's Runway — And More Time Rethinking Your Strategy. Here's How.

Perceived short runways leave founders in angst. It does not have to be this way; the best way to extend the runway is the right strategy.

Business News

Wells Fargo Reportedly Fired More Than a Dozen Employees for Faking Keyboard Activity

The bank told Bloomberg that it "does not tolerate unethical behavior."


Tech Overload Will Destroy Your Customer Relationships. Are You Guilty of Using Too Much Tech?

Technology's value in our world is undeniable. However, there can be a point where it is ineffective and possibly counterproductive. See where it can negatively impact your product, brand, and business.

News and Trends

Work With AI: LinkedIn Debuts Suite of New AI Experiences

In a blog post, LinkedIn chief product officer Tomer Cohen shared how the company observed a remarkable trend of a 5x increase year-over-year in the number of learners engaging with Al courses and content on the platform