Pickrr Technologies, which provides end-to-end logistics solutions, on Tuesday announced it has raised $4 million (Rs 29.45 crore at current exchange rates) in a fresh round of funding led by venture capital firm Guild Capital and impact investor Omidyar Network India.
The investment comes as the first institutional round for the Delhi-based company and will be deployed to develop product and expand the company’s reach across markets, a statement said.
Founded in 2015 by Rhitiman Majumder, Gaurav Mangla, Ankit Kaushik, Pickrr leverages a smart machine learning-based algorithm and cloud-based platform with partnerships across distribution networks to automate shipping for online sellers and D2C brands across India, improve the overall delivery performance, and offer multi-channel order management solutions.
“Our aim is to create a brand that online sellers use for 'anything and everything related to logistics'. This includes- warehousing and fulfilment, cross border logistics, B2B logistics, and more,” Majumder said in the statement.
“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,” he added.
At present, the company claims to be handling 1.5 million shipments every month, with a reach to more than 26,000 pincodes. During this year’s festive season, its order volumes have grown 400% year-on-year, the statement added.
“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,” Badri Pillapakkam, Partner, Omidyar Network India.