Gurugram-based logistics software solution provider Shipsy on Wednesday said that it has raised $6 million (around Rs 44.3 crore) in the latest funding round co-led by Sequoia Capital India’s Surge and existing investor Info Edge.
Shipsy is a SaaS (software as a service) provider which helps shippers and logistics companies to digitise and automate their operations. It also helps shippers to reduce their freight costs, incidental charges and to improve shipping turnaround at time. Shipsy also helps to minimise working capital loss for shippers through advance machine learning (ML) models.
“Owing to a substantial increase in the demand for our solution, it was important to leverage the momentum and look out for global investment partners in our next leg of our journey,” said Soham Chokshi, Co-Founder & CEO, Shipsy. He added that the money raised in the Series A funding round will help Shipsy to grow and enable to continue its aggressive geographical expansions beside investing in product innovation.
In June 2015, Shipsy was Co-founded By Soham Chokshi, Dhruv Agarwal, Himanshu Gupta and Sahil Arora. Till date, it has raised a funding of about Rs 10 crore and has served its customers across Dubai, Saudi Arabia, North Africa, Singapore and Malaysia.