Shipsy, a Gurgaon based company which provided logistics services but now has moved to being an integrated analytics platform service, has raised $1 million in funding from DTDC Express for a 20% stake. Shipsy will use the funds for padding its technology infrastructure. It plans to break even in the next financial year. DTDC plans to use Shipsy’s tech for its e-commerce and e-fulfilment wings.
In September 2015, Shipsy raised an undisclosed amount of funding from a group of angels including Dheeraj Jain, Nittin Passi, Ankit Jhunjhunwala and Vishal Chandra with Udaan Angel Partners. It said that it would use the funds for hiring and marketing. The company was founded by Soham Chokshi, Dhruv Agrawal, Maharshi Devraj and Himanshu Gupta in June 2015.
According to its press statement, Jain helped Shipsy pivot from C2C deliveries to creating platforms for analytics for enterprises in the logistics sector. The platform will address inefficiencies in existing logistics systems. As of now, Shipsy provides architecture design for analytics, systems for business processes and an analytics platform for insights.
DTDC e-commerce site:
In 2013, DTDC launched an e-commerce site with a focus on Indians who wanted to send gifts to relatives abroad. The marketplace was launched just ahead of Diwali and then sold clothes, sweets, bags and accessories. In the same year, it launched DotZot to offer logistic solutions for e-commerce retailers. DTDC it had bought 70% stake in Bangalore-based logistics firm Nikkos in 2013 for Rs 1 crore.
The online logistics sector’s recent fundings and acquisitions:
– Last month, Agarwal Movers Group invested Rs 100 crore (~ $14.9 million) in Delhi based Trucking Cube, a logistics provider.
– In February, CraftsVilla acquired the on-demand shipping service provider Sendd for $4.5 million.
– In March, Snapdeal partnered with dPronto, a last mile delivery company, to offer same day delivery services across India.
– In February, logistics company Xpressbees raised $8 million in a round of funding.
– In December 2015, Gurgaon-based logistics services provider Rivigo raised $30 million.
– In the same month, Holisol Logistics, a Delhi-based ecommerce logistics solutions provider, raised $10 million.
– The same month, Bangalore based Blubirch, a reverse-logistics provider, raised $2 million in funding.
– Parsel acquired Accord Ecom Solutions, a third party logistics provider.
– Bangalore based BlackBuck, a B2B logistics startup, raised Series B funding worth $25 million.
– Flipkart acquired a strategic minority stake in MapmyIndia for an undisclosed amount.
Our logistics coverage here.