Shipsy, an SaaS-based smart logistics management platform provider, 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.
“We are thrilled to partner with seasoned investors with a common vision to transform the global logistics industry using a technology-first approach,” said Soham Chokshi, CEO and Co-Founder Shipsy. “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 is delivered, whether to a consumer or to a business, whether domestically or internationally, is powered by Shipsy.”
The company plans to use the funding to continue growing its stronghold in the Middle East, India, and Southeast Asia while accelerating global expansion into new markets such as Europe and the United States. 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 artificial intelligence, machine learning, and blockchain capabilities.
“Shipsy’s technology offering enables them to be the single partner of choice for enterprises who are transforming their logistics operations. Large category leading customers have been thrilled at the impact of Shipsy in their operations . We look forward to partnering with them as they become a leader in logistics software” says Kaushik Anand, Partner at A91 Partners
This round comes on the back of Shipsy having raised a Series A funding of $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.