eShipz raises $700k from Indian Angel Network, Axilor Ventures
At a Glance
eShipz raised $700K in funding led by Indian Angel Network. The company provides shipping automation in the B2B segment and helps companies manage orders from multiple sources, via numerous courier companies using an integrated dashboard.
Bengaluru-based eShipz, a startup offering a SaaS platform for shipping automation, recently raised $700000 in a seed funding round led by Indian Angel Network (IAN) to enhance its tech capabilities and build stronger teams, reports state.
eShipz raised an undisclosed amount last year in a pre-Seed round from Axilor Ventures, who participated in the current funding round. eShipz is incubated by JioGenNext, SAP Startup Studio, and IIM-B NSRCEL. Commercially launched in 2020, eShipz provides shipping automation in the B2B segment and helps companies manage orders from multiple sources, via multiple courier companies using an integrated dashboard.
Shashi Tripathi, co-founder of eShipz, stated that not many players in the market offer full-stack shipment solutions that can fit into the requirements of small and medium-sized businesses to large corporations. Noting that the investment signified the investors’ confidence in eShipz, Shashi added,
“Through eShipz, we are helping businesses in improving supply chain efficiency and reducing operational hassles and related costs.”
At present, eShipz has its solutions deployed in over 230 enterprises, 2000 small and medium-sized businesses, all of whom use eShipz for their dispatch management. Prashant Jain, lead investor at IAN, stated that eShipz would emerge as a leader in its industry and 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.Prashant Jain, lead investor at IAN
eShipz is digitizing a traditional supply chain which has low technology adoption. SMB digitization is a core theme at Axilor and eShipz’s growth and scale is a great example of the opportunities in this spaceNandan Venkatachalam, deal lead at Axilor Ventures