Startup Funding Alert: Last mile distribution startup Frontier Markets raises $2.25M in Pre-Series A

#lastmiledelivery #lastmilelogistics #startupbharat

Jaipur-based last mile rural distribution startup, Frontier Markets, on Monday announced that it has raised $2.25 million in a Pre-Series A funding round led by ENGIE Rassembleurs d’Energies, The Rise Fund, and The Singh Family Trusts (advised by Artha Impact), along with Teja Ventures and affiliates of Beyond Capital Fund.

Founded in 2011 by Ajaita S., Frontier Markets is a last mile-assisted ecommerce and distribution company that leverages its network of tech-enabled women agents to market, sell and service products and services across rural India.

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[Funding alert] Last mile distribution startup Frontier Markets raises $2.25M in Pre-Series A

Jaipur-based last mile rural distribution startup, Frontier Markets, on Monday announced that it has raised $2.25 million in a Pre-Series A funding round led by ENGIE Rassembleurs d'Energies, The Rise Fund, and The Singh Family Trusts (advised by Artha Impact), along with Teja Ventures and affiliates of Beyond Capital Fund.

Indian Startup Stories: With partners like Delhivery and Shadowfax, Delhi-based startup Pickrr is simplifying logistics

#startups #startupindia #logistics #aggregators #startupstories #startegy #covid19 #founders #ai #ml #artificialintelligence #machinelearning

The logistics sector earned infrastructure status in 2017 when its market size was estimated at $160 billion. According to IBEF, the Indian logistics market was expected to reach $215 billion by 2020, logging a 10.5 percent CAGR over 2017.

Founded by IIT graduates Rhitiman Majumder, Gaurav Mangla, and Ankit Kaushik in August 2015, Pickrr aggregates various logistics players in the country, delivering to more than 26,000 pincodes and adding more every day.

Pickrr uses artificial intelligence (AI) and machine learning (ML), specialising in air express, surface express, fulfilment and warehousing, and reverse logistics. Some of Pickrr’s clients include Bosch Household Appliances, Snapdeal, DenSnapdeal, 1mg, Bombay Shaving Company, Shopify, and Archies, among others. On the logistics side, it has partnered with Delhivery, Xpressbees (BusyBees Logistics Solutions Pvt. Ltd.), BlueDart, DTDC, Ecom Express Private Limited, FedEx, and Shadowfax, among others.

Currently, the logistics startup processes more than 50,000 orders per day; they are managed by a team of 24 employees.

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With partners like Delhivery and Shadowfax, Delhi-based startup Pickrr is simplifying logistics

The logistics sector earned infrastructure status in 2017 when its market size was estimated at $160 billion. According to IBEF, the Indian logistics market was expected to reach $215 billion by 2020, logging a 10.5 percent CAGR over 2017. However, the sector continues to remain highly fragmented and unorganised.

Growing a global SaaS business - the LogiNext way

Source: YourStory Media

Author: Sindhu M V

In January 2020, transportation automation company LogiNext raised $39 million as a part of its Series B funding, led by marquee investors Tiger Global Management and Steadview Capital. With this, the startup took the total tally of its investments to $50 million, which includes the $10 million it raised as a part of its Series A round, led by Paytm and Alibaba.

The end-to-end logistics management #SaaS platform, LogiNext, enables automated order management, predictive capacity planning, real-time route optimisation, dispatch automation, transparent customer experience, and post-delivery processing and analytics of #B2B transportation or #B2C delivery business.

Mentored by a team of founding engineers of Google and Google Maps during their time at Carnegie Mellon University, co-founders, Dhruvil Sanghvi and Manisha Raisinghani witnessed first-hand the journey of #AI and #ML from being just buzzwords and research topics at university during the early 2010s to being used in applications and technologies two-three years later.

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Growing a global SaaS business - the LogiNext way

Serving 150+ enterprises, LogiNext has quickly become a household name in the global retail and transportation industry. Apart from building the platform as an experience differentiator, LogiNext's growth has been catapulted by its ability to leverage niche and domain specific channel partnerships