Pre-Series A round-headed by Mountain Partners and including previous investor Indian Angels Network (IAN) garnered $3 million for logistics company Pidge.
The funding will be used, according to a news statement from the firm, to scale up the logistics SaaS service.
The current round comes after the IAN provided $1 million in investment in 2021. Before this, the founders had invested $2 million of their own money into the business.
Ratnesh Verma and Rushil Mohan founded the on-demand last-mile B2B logistics platform Pidge in 2019. In the Delhi-NCR area, the business has offices in Delhi, Noida, Gurgaon, Faridabad, and Ghaziabad.
Reduced lead times are guaranteed by the company’s patented algorithms for dynamic batching and real-time order clubbing. The company makes use of its “Pidge Houses,” or micro-fulfillment facilities, to meet the demands of its business partners for quicker and more precisely timed delivery.
The business states that it has already signed up 400,000 network members and facilitated over 5 million deliveries.
Pidge is focusing on the $40 billion Indian last-mile logistics market, which is anticipated to grow to $100 billion by 2024.
