[Funding alert] Pickrr raises $12M in Series B round led by IIFL, Amicus Capital
Gurugram-based, a SaaS-based logistics startup, has raised Series B funding of $12 million (Rs 85 Crore) in a Series B round led by IIFL, Amicus Capital, and Ananta Capital. Existing investors Omidyar Network India and Guild Capital also participated in this round.
In an interaction with YourStory, Rhitiman Majumder, Co-founder and CEO, Pickrr, said, the fresh capital will be used to strengthen technology, warehousing solution, and expanding the leadership team. The company will continue to drive product development and R&D and expand its network of fulfilment centres across the country. He said the funding will also help Pickrr in moving towards creating a seamless end-to-end fulfilment offering for SMBs, including retailers, marketplace sellers, and D2C brands.
“Pickrr’s vision is to make logistics fast and seamless. This infusion of capital has further strengthened our path to deliver simplified solutions. Using technology to drive logistics automation, we aim to reduce the delivery time for every ecommerce seller from an average of 5-6 days to 1-2 days."
"With just one click access to our end-to-end logistics service, anyone from a small business to a D2C brand can set-up their ecommerce operations seamlessly. As more and more SMBs come online, the need for end-to-end logistics services like ours will grow rapidly, giving us a great opportunity to scale with our clients,” Rhitiman added.
Founded by IIT graduates Rhitiman Majumdar, Gaurav Mangla, and Ankit Kaushik in August 2015, Pickrr is an end-to-end, plug-and-play logistics solution for ecommerce sellers and D2C brands to ship products from anywhere in India to end customers without any hassle in price negotiations, courier partner selection, and data analytics.
Pickrr said that it saw a 3x jump in daily orders in 2021 and the order volume on its platform continues to grow steadily. It uses the power of AI and ML to provide data-driven insights to more than 50,000 sellers on its platform.
The company currently has about 25 delivery partners on board and offers shipping to 29,000+ pin codes and 220 destinations across the globe. Its one-click easy integration with over 25 partners like Amazon, Shopify, and WooCommerce make Pickrr a preferred ecommerce fulfillment platform for SMBs.
Some of the clients on Pickrr’s platform include Emami, Oziva, Healthkart, and Bellavita Organics. The startup recently strengthened its foothold in the warehousing segment with the launch of Pickrr Plus – an intelligent warehousing/fulfilment solution to help sellers manage their inventory without investing in a physical warehousing space or expensive WMS solutions.
Amit Mehta from IIFL said,
“As small businesses come online, we believe that businesses like Pickrr, which streamline the post checkout experience, will have a multi-decade growth runway. The founders have focused on flawless execution and technology, which has enabled Pickrr to distinguish itself. We are excited to partner with them as they create a great customer experience for small businesses coming online.”
At the core of Pickrr’s technology lies its proprietary algorithm CALCULA, which suggests the best courier partner that can be used considering historical data on multiple parameters that helps sellers decrease RTO percentages.
Additionally, the company offers RTO reduction, real-time NDR management, real-time shipment tracking, invoicing, and COD management to help bring efficiency to the seller’s logistic setup while reducing cost at the same time.