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Shipsy raises $6 million in Series A fundraising round

Llama Logisol Pvt Ltd, which operates software-as-a-service logistics platform Shipsy, has raised $6 million (about Rs 44.4 crore) in a Series A fundraising round.

The round in Gurugram-based Shipsy has been co-led by Surge, the accelerator program of Sequoia Capital India, and parent Info Edge (India) Ltd, an existing investor in the company.

Shipsy was set up in 2015 by Soham Chokshi, Dhruv Agarwal, Himanshu Gupta, and Sahil Arora. The company says its platform helps shippers and logistics firms to digitize and automate their operations.

Shipsy will use the capital it has raised to accelerate growth as well as for geographical expansion. It will also invest in product development, Chokshi, who is also the startup’s chief executive officer, added.

The company says it has over 120 enterprises as clients, including large quick-service restaurant (QSR) chains and five of the top 10 exporters in the country.

Shipsy is among the several firms in the logistics-technology space that has received investor attention in the previous couple of years. Some of the larger VC-funded firms in this space include Rivigo, BlackBuck, and Delhivery.


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