SaaS Startup Godamwale Raises $1 Mn Seed Funding The company will use the funds to advance the development of its tech platform Inciflo
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Software-as-a-service (SaaS)-based supply chain and logistics service provider Godamwale on Wednesday announced to have raised $1 million in its Seed fund round from angel investor Captain Anand Aryamane.
The company will use the funds to advance the development of its tech platform Inciflo. Part of the funds will also be used towards expanding its fulfillment network and for marketing.
The company is also presently in talks with institutional investors for their Series A round of funding.
"During our research and from experience in the warehouse discovery model, we found that there is a huge need in the market for a tech-based, AI-driven, on-demand warehousing, and fulfillment solution. Our platform with smart inventory placements which are strategically located near customers, helps in faster delivery and lower logistics cost," said Ranbir Nandan, founder, and chief executive officer, Godamwale.
Godamwale was founded by three friends Basant Kumar, Vivek Tiwari, and Ranbir Nandan, was then launched in 2017 as India's first warehouse discovery and leasing platform. The company with its proprietary supply chain tech currently has over 25 million square feet of space listed on its platform. Godamwale has served more than 110 clients in both business-to-business (B2B) and business-to-consumer (B2C)/direct-to-consumer (D2C) sectors, from small shippers to large enterprises.
"I am excited to work with the passionate team at Godamwale. We see great potential in our tech platform - Inciflo which is currently the most advanced mobile tech platform that has a short learning curve. This technology empowers employees from the floor level to top management and hosts them on a single and truly integrated supply chain platform. This scalable, AI-backed supply chain platform is a catalyst to the unification of the large marketplace that we have created. We are happy to have Captain Anand on board and we will benefit greatly from his vast experience and knowledge in the logistics and investment sector. Flexible Warehousing offers great potential in our country with retail and e-commerce on the cusp of heightened growth. The response that we have received from our customers is also testimony to this opportunity," added Vivek Tiwari, founder, and chief operating officer, Godamwale.
The warehousing market in India is expected to grow to $30 billion by 2025, with over 600 million square feet of warehousing space - split between grade A and grade B categories. Presently third-party logistics, e-commerce, and retail sectors are the major users of the warehousing space in India, the company shared.