Logistics solutions firm OORJAA has raised Rs 5.35 crore in its Pre-Series A Round 2, with investments coming from Inflection Point Ventures (IPV), Vinners Platform, Soonicorn Ventures and HEM Angels. The funding will be used towards scaling the PiE KART platform, advancing the technological backbone, and expanding the team to support company's growth, said a statement.
Focusing on leveraging advanced technology, OORJAA aims to enhance efficiency, visibility, and sustainability particularly in last-mile and mid-mile deliveries. The company's recently launched app-based offering, PiE KART, is designed to provide reliable, eco-friendly, and cost-effective intra-city delivery solutions. The platform utilises shared trucks for same-day delivery, targeting the specific needs of small and medium-sized enterprises (SMEs).
According to Mitesh Shah, co-founder, Inflection Point Ventures, the logistics industry plays a pivotal role in virtually every business. However, it remains largely unorganised due to its multifaceted and uncontrolled factors. “OORJAA has embarked on a transformative journey to address these challenges, providing end-to-end automation solutions for diverse delivery requirements,” said Shah.
OORJAA's CEO & Co-founder, Sandeep Patil, pointed out the company's notable 5.0x growth since Round 1, driven by IPV. He mentioned that with this Round 2 funding and the recent launch of PiE KART, they are entering the next phase of expansion. “Our commitment is to revolutionise last-mile and mid-mile logistics through advanced technology. Our investors, led by IPV, have been instrumental in our journey towards greater heights,” said Patil.
Operating across over 40 cities in India, OORJAA handles a substantial monthly delivery volume of 22 million tonnes. The firm was recognised as one of the Top 10 Logistics Startups in 2021 by Industry Outlook.
The Indian intra-city logistics market, currently valued at $4 billion, is poised to grow at a compound annual growth rate (CAGR) of 12% year-over-year. This growth trajectory suggests growing opportunities and a potential market expansion in the Indian logistics sector.