Shipsy raises US$25 million in Series B round

Funding News

Shipsy, a leading SaaS-based smart logistics management platform provider, has raised US$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 company plans to use the funding to continue growing its stronghold in the Middle East, India and Southeast Asian markets while accelerating global expansion into new markets such as Europe and US.

In addition, Shipsy will also be using the funds to drive rapid technological innovation with a greater focus on enhancing sustainability outcomes in the global logistics industry and their platform’s AI, Machine Learning and Blockchain capabilities.

“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,” says Soham Chokshi, CEO and Co-Founder Shipsy.

This round comes on the back of Shipsy having raised a Series A funding of US$6 million in 2020 led by Sequoia Capital India’s Surge and Info Edge.

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