Shipsy Raises $25 Million In Series B Round The company plans to use the funds to expand into the markets of the Middle East, India and southeast Asia
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Shipsy, a SaaS-based smart logistics management platform, has raised $25 million in a Series B round co-led by A91 Partners and Z3 Partners along with existing investors Info Edge and Sequoia Capital India's Surge.
The company plans to use the funds to expand into the markets of the Middle East, India and southeast Asia while accelerating global expansion into new markets such as Europe and the US. In addition, Shipsy will also be using the funds to drive rapid technological innovation with a greater focus on enhancing sustainability outcomes in the global logistics industry and its platform's AI, machine learning and blockchain capabilities, said a statement.
"We are thrilled to partner with seasoned investors with a common vision to transform the global logistics industry using a technology-first approach. Their continued support strengthens our mission of enabling customers to achieve sustainable business and logistics excellence. It takes us closer to our goal of becoming the de-facto logistics operating system globally, such that every shipment being delivered, whether to a consumer or to a business, whether domestically or internationally, is powered by Shipsy," said Soham Chokshi, CEO and co-founder Shipsy.
"Shipsy's technology offering enables them to be the single partner of choice for enterprises who are transforming their logistics operations. Large category leading customers have been thrilled at the impact of Shipsy in their operations . We look forward to partnering with them as they become a leader in logistics software" said Kaushik Anand, partner at A91 Partners.
The logistics management platform empowers businesses to significantly reduce operating costs, lower carbon footprint, enhance customer experiences, boost delivery productivity and drive seamless cross-border freight movement, added the statement.