Logistics tech startup Pickrr on Tuesday announced it has raised $4 million in funding in a round led by Guild Capital and Omidyar Network India. Pickrr is an AI-enabled and cloud-based platform that automates shipping for businesses and provides seamless multi-channel order management solutions. Having been bootstrapped by its founders, with support from angel investors, this is Pickrr’s first institutional raise. Boutique Investment Bank, Dexter Capital was the exclusive financial advisor for the transaction.
Pickrr will use the investment to continue its market expansion and product development. The core of Pickrr’s technology remains its smart machine learning based algorithm called CALCULA which provides courier recommendations aimed at improving delivery performance.
Rhitiman Majumdar, Co-Founder, Pickrr, said, “We are delighted to be partnering with Guild Capital and Omidyar Network India. Our aim is to create a brand that online sellers use for 'anything and everything related to logistics'. This includes- Warehousing & Fulfilment, Cross border Logistics, B2B Logistics, and more. We are also planning to provide our tech solutions to aggregators and franchisees so that we can manage their shipments through a single end to end platform. The company’s goal is to help become growth drivers to their sellers and not just logistics service providers. Pickrr also plans to enhance services that decrease the cost and the inconvenience of logistics while also helping them to increase revenues.”
With one of the largest service footprints among SaaS based logistics providers, Pickrr serves 26,000 pin codes and handles 1.5 million shipments in a month. During this festive season, Pickrr claims its volumes have grown over 400% year-on-year, which follows on from aggressive growth over the last 12 months.
Badri Pillapakkam Partner, Omidyar Network India said, “Pickrr’s focus on helping small businesses get access to best-in-class logistics services resonates with our objective of helping every Indian realise the power of the internet. With Pickrr’s help, MSMEs are able to digitise their shipping workflow, lower their courier rates and most importantly improve efficiency of delivery, which results in greater revenue. Further, its smart pricing structure, allows for healthy margins in an otherwise low margin business. Pickrr's partnerships across distribution networks and its comprehensive shipping solutions fit well with our 'full-stack logistics solutions for MSMEs’ investment thesis, and we are excited to partner with
With online shopping and e-commerce showing double digit growth, Pickrr aims to continue customer acquisition as a key driver of growth in the coming year.