In a seed fundraising round headed by XB Group, the parent company of K-Indev Logistics, and also Navyug Global Ventures and Nivetha Muralidharan, EV fleet and fulfillment infrastructure business TOCAL has raised Rs 9 crore.
According to a news statement from TOCAL, the revenues will be utilized to increase operations, build strategically placed fulfillment centers, scale its EV fleet and operational infrastructure, improve fleet, warehouse, and order management technologies, and fortify enterprise sales and strategic relationships.
Dhairyasheel Deshmukh and Hidayathulla Shareef founded TOCAL in 2021 as a technology-driven EV fleet and fulfillment infrastructure company that uses EV-powered last-mile delivery, fulfillment centers, and fleet management technologies to enable sustainable commerce. The startup is developing an integrated logistics platform to help companies operate more effectively, transport goods more quickly, and lessen their carbon footprint.
The Bengaluru-based startup’s integrated technology platform, which integrates EV-powered delivery services, fulfillment centers, fleet management software, and rider enablement into a single ecosystem, responds to businesses’ changing needs for quicker fulfillment, more effective deliveries, and sustainable logistics solutions. This makes it possible for brands to streamline their supply chain operations while increasing sustainability, scalability, and efficiency.
TOCAL plans to manage 75 fulfillment centers, deploy over 20,000 electric vehicles, work with over 1,000 brands, and grow to more than 15 cities over the course of the next four to five years.
Notable competitors in the market include Zypp Electric, Shadowfax, LoadShare Networks, and Fyn Mobility.
