Logistics firm Pidge has raised $3 million in a pre-Series A round led by Mountain Partners and with participation from existing investor Indian Angels Network (IAN).
The funding will be used, according to a news statement from the company, to scale up the logistics SaaS service.
The latest funding follows a $1 million investment from IAN in 2021 and a previous self-funding round by the founders, who had invested $2 million.
The firm’s proprietary algorithms in real-time order clubbing and dynamic batching ensure minimized lead times. The firm also leverages its micro-fulfillment centers (Pidge Houses) to cater to the needs of its business partners for faster and better-controlled deliveries.
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The startup claims to have enabled over 5 million deliveries and onboarded 400,000 network users, so far.
Having facilitated more than 5 million deliveries and onboarded 400,000 network users, Pidge is aiming to tap into the Indian last-mile logistics sector, which is presently valued at $40 billion and projected to reach $100 billion by 2024.
ABOUT PIDGE
Pidge is a logistics platform. It is an on-demand last-mile B2B logistics partner. By empowerment and growth for all, through helping business expand their reach and improve their customer satisfaction, training our riders to become the best versions of themselves, and creating industry-changing technology and products.
Founded in 2019 by Ratnesh Verma and Rushil Mohan, Pidge is an on-demand last-mile B2B logistics platform. The company operates across 5 cities in the Delhi-NCR region – Delhi, Noida, Faridabad, Gurgaon, and Ghaziabad.