[Funding alert] SaaS startup eShipz raises $700K led by IAN, Axilor
, a SaaS-based startup offering shipping automation to SMBs and large enterprises, on Thursday said that it has raised $700,000 in a funding round led by Indian Angel Network. The round saw participation from existing investor, Axilor Ventures. The startup is incubated by Axilor, JioGenNext, SAP Startup Studio, and IIM-B NSRCEL.
The Bengaluru-based startup will utilise the funds to enhance its tech capabilities and build stronger teams.
The founding team including Shashi S Tripathi, Shivadeep Mahadi, and Ajaykumar R, identified gaps in the supply chain and logistics support for businesses. Realising the need for shipping automation in the B2B segment, they commercially launched eShipz in January 2020.
Speaking on the development, Shashi Tripathi, Co-founder of eShipz, said,
“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."
Coincidentally, the ongoing pandemic proved to be a boon as the startup said that the remote application of eShipz enabled companies to operate the dispatches in a better way while enabling complete visibility of goods. Shashi added that the latest investment asserts investors’ confidence in the startup's growth potential.
Currently, the startup is helping companies manage orders from multiple sources and via multiple courier companies using an integrated dashboard. Their solutions offer plug-and-play facilities for ERPs, marketplaces, and 90+ courier services.
Having its solutions deployed across India, the Bengaluru-based company caters to 230+ enterprises and 2,000+ SMBs that use eShipz application for their dispatch management.
Prashant Jain, Lead Investor at IAN said,
“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, Axilor commented,
“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”.
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