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Marking its first institutional fund-raise, logistics tech start-up Pickrr Technologies has raised $4 million in a round led by Guild Capital and Omidyar Network India.
The company will use the investment for product development and market expansion plans, it said in a statement.
Pickrr is an Artificial intelligence-enabled and cloud-based platform that automates shipping for businesses and provides multi-channel order management solutions. Having been bootstrapped by its founders, with support from angel investors, this is Pickrr’s first institutional raise. Boutique investment bank Dexter Capital was the exclusive financial advisor for the transaction.
“We are planning to provide our tech solutions to aggregators and franchisees so that we can manage their shipments through a single end-to-end platform. The company’s goal is to help become growth drivers to its sellers and not just logistics service providers. Pickrr also plans to enhance services that decrease the cost and the inconvenience of logistics while also helping them increase revenues,” said Rhitiman Majumdar, Co-Founder at Pickrr.
Pickrr serves 26,000 pincodes and handles 1.5 million shipments in a month.
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