GURUGRAM, India — Shipsy, a leading SaaS-based innovative logistics management platform provider, has raised USD 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 funding will enable Shipsy to continue growing its stronghold in the Middle East, India and Southeast Asian markets while accelerating global expansion into Europe and the US. Shipsy will also use the funds to drive rapid technological innovation, focusing on enhancing logistics sustainability and AI, ML, and Blockchain capabilities.
“We are thrilled to partner with seasoned investors with a common vision to transform the global logistics industry technology. 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,” says Soham Chokshi, CEO and Co-Founder Shipsy.
Shipsy’s technology-first approach has enabled them to build customer trust and loyalty, a key factor driving investments.
Shipsy’s continuous focus on enabling businesses to provide customer transparency, flexibility, and convenience has been critical for its growth.
Commenting on Shipsy’s growth, Sanjeev Bikhchandani, Founder and Executive Vice Chairman of Info Edge, highlighted the immense potential the company holds.
This round comes on the back of Shipsy having raised a Series A funding of USD 6 million in 2020 led by Sequoia Capital India’s Surge and Info Edge. In 2021, to support a growing customer base in the Middle East, 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% last year.