SaaS startup eShipz has said that it has secured $700K in funding round. The round was co-led by Indian Angel Network (IAN) and Axilor Ventures.
Commenting on the announcement, Shashi Tripathi, co-founder, eShipz, stated, “There are hardly any players in the market offering full-stack shipment solutions, which can fit into requirements of small SMBs to large corporates. Through eShipz, we are helping businesses in improving supply chain efficiency and reducing operational hassles and related costs.”
Prashant Jain, Lead Investor, IAN, added, “Indian express courier industry processes more than 2.8 billion packages annually, growing rapidly at a CAGR of 19 percent YoY. The pandemic and online retail continue to accelerate the demand. Against this backdrop, the solutions of eShipz are well-placed to help lakhs of large as well as small online businesses by saving them time and money. We believe eShipz will emerge as a leader in the space. We wish the founders good luck in their future endeavours.”
Nandan Venkatachalam, Deal Lead at Axilor, said, “eShipz is digitising a traditional supply chain which has low technology adoption. SMB digitisation is a core theme at Axilor and eShipz’ growth and scale is a great example of the opportunities in this space.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.