Logistics Firm Pidge Raises $3 Million In Pre-Series A Round Prior to this round, the founders bootstrapped the company with $2 million and raised $1 million from the Indian Angels Network in 2021
By Teena Jose
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Logistics firm Pidge has secured $3 million in pre-Series A funding round led by leading European VC, Mountain Partners to expand its logistics SaaS solution. Pidge combines SaaS and Network capability creating India's first hybrid fulfillment platform.
"We are delighted to have the backing of Mountain Partners. Their global presence, experience in technology led businesses, and a deep belief in Pidge's proposition is exciting. We are also encouraged by our existing investors, IAN's participation in this round. Our purpose is to enable businesses to grow by building an ecosystem of accessible SaaS products and services," stated Ratnesh Verma, founder and CEO of Pidge.
Prior to this round, the founders bootstrapped the company with $2 million and raised $1 million from the Indian Angels Network in 2021. Pidge is India's first transaction-based logistics SaaS company, which makes hybrid fulfilment possible. Pidge has enabled over 5 million deliveries and has 400,000+ network users, claimed by the company in a statement.
"I am excited to invest in Pidge, as they revolutionise the Indian e-commerce ecosystem with their last-mile logistics SaaS. Having invested in multiple successful technology companies around the world, I am impressed by how Pidge software-as-a-service onboards small and medium businesses (SMEs), empowering them through accessible technology. I am looking forward to seeing the impact of this technology in a fast-developing country like India," said Dr. Cornelius Boersch, founder and CEO Mountain Partners.
Founded in 2019 by Ratnesh Verma and Rushil Mohan, Pidge is claimed to be on a mission to make logistics technology accessible to everyone.
