Cross-border logistics start-up ShipGlobal has raised $2.5 million in a seed funding round from InfoEdge Ventures.
The New Delhi-based firm will use the fresh proceeds to scale up its technology capabilities as well as expand its business operations and global footprint.
Founded in 2022 by Aayush Anand, Angad Arora and Vaibhav Kapur, ShipGlobal provides cost-effective and reliable logistics solutions. The platform simplifies international shipping for SMEs in India, offering services such as customs clearance, tracking, and real-time rates. “We continue our path to become a preferred logistics partner for SMEs and look to leverage any strategic opportunities. The funding is an indicator of the company’s strong unit economics and the validation of our business model. With this round, we are aiming to elevate our technology, streamline operations, expand export routes and optimise our network. We intend to be the guiding light for Indian SME businesses in global trade,” said Aayush Anand, Co-founder and CEO of ShipGlobal.
Within a year of its operation, the company has expanded to over 15 regional offices in India and delivered over half a million packages having a gross merchandise value of over ₹3,000 crore. Further, the start-up aims to leverage its team of experts, cost-effective strategies, and robust technology to position itself as a reliable global logistics partner for Indian SMEs.
The Indian logistics industry which reached $259.5 billion in 2022 seems to be a lucrative one for many businesses. According to an IMARC Group study, the market size is poised to reach $432.4 billion by 2028.