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Logistics start-up, Pickrr Technologies bags $4 million in funding round

Pickrr

Source: ClipartKey

Pickrr is an on-demand Indian logistics start-up that aims to revolutionise how a seller transports his products to consumers. Recently, the start-up has announced to raise USD 4 million in funding round led by Venture Capital firm, Guild Capital and investment company, Omidyar Network India.

The Indian logistics company leverages technology to carry out its efficient operations. It automates logistics through Artificial Intelligence and Cloud-based platform that ultimately creates a diverse order management system. In simple terms, the start-up aims to completely revolutionise transport of products from point A to point B providing the consumer with a hassle-free logistics experience. Using Pickrr as a service, consumers will be able to send any package from any location to anywhere around the globe with only a few taps on the smartphone. Complete responsibility of picking the product to packaging to shipping is on Pickrr and according to sources, feedbacks are affirmative.

The Artificial Intelligence and Cloud-based platform that is the core of the business is called ‘CALCULA’ and it provides courier recommendations to Pickrr employees with a sole aim to improve delivery performance, as reported by Entrepreneur.

When asked about their latest funding, the company mentions utilising this latest infusion of $4 million in large scale product development and market expansion.

According to sources, Pickrr is a great pick of Micro, Small and Medium Enterprises as its services helps these businesses with best-in-class logistics services in India by digitising their workflow, reducing courier costs and improving shipping and delivery efficiency to a great deal according to Indian standards. All of these services and features combined will directly result in a much greater revenue.

This latest funding of $4 million is the company’s first institutional funding and was financially advised by the investment bank, Dexter Capital Advisors.

Pickrr was co-founded back in 2015 by Gaurav Mangla, Rhitiman Majumder and Ankit Kaushik with an aim to be an end-to-end, on-demand first-mile logistics solution for Direct to Consumer e-commerce sellers that want to ship products anywhere across the country.

COVID-19 pandemic, as unfortunate as it is, has proved to scale up growth for e-commerce sales which in-turn has benefitted logistics businesses as well and has become one of the major drivers for this year’s growth.

Investors are thrilled to back Pickrr with their investments as this market space has shown tremendous value this year and is looking forward to a greater business potential for the future as well.

 

 

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