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Logistics management SaaS platform Shipsy 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 fresh capital will be utilized to expand into new markets such as Europe and US and growing in existing markets like Middle East, India and Southeast Asian. In addition, the start-up will invest in driving faster technological innovation with focus on enhancing sustainability outcomes in the global logistics industry and their platform’s AI, Machine Learning and Blockchain capabilities.
Soham Chokshi, CEO and Co-Founder Shipsy said, “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.”
“This will help us build a much stronger product roadmap that will continue to make our customers successful by helping them further reduce logistics costs and drive an unparalleled customer experience. We will also continue to invest in our people to form a world-class A player team that would make us the leading logistics SaaS company in the world,” He added.
“Shipsy is building a comprehensive customer-first SaaS company servicing a critical need in shipping, freight and the entire global supply chain. Shipsy’s addressable market has quadrupled post-COVID. We are excited to partner with Soham, Dhruv, Harsh and team as they build Shipsy into a world-class software company,” Gautam Patel, Managing Partner, Z3 Partners said.
In 2021, Shipsy established its regional HQs in Dubai and, more recently, in Indonesia for its Southeast Asian customers. The company also recorded a growth rate of 2.5x in its ARR and grew its customer base by 75 per cent last year.
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