ShipEase, a software-as-a-service (SAAS) based logistics provider, has raised $1 million in a Pre-Series A round led by Inflection Point Ventures (IPV). The company, which assists direct-to-consumer (D2C) brands and SME e-tailers in optimizing their supply chains, plans to use the funds for team expansion, technology enhancement, new product development, and brand building.
Founded in 2020 by Pawan Kumar, Ajay K, and Lalit Singh, ShipEase offers automated shipping services and smart courier allocation to over 28,000 pincodes. The founders have extensive experience in logistics, e-commerce, and technology, having previously worked at companies such as Xpressbees, Ecom Express, Delhivery Ltd, FedEx, Reliance Industries, RBS, Iris Inc, and Aricent.
Inflection Point Ventures, the lead investor in this funding round, has invested over Rs 600 crore across more than 190 deals. Vikram Ramasubramanian, partner at IPV, noted the importance of logistics for D2C brands and highlighted the potential of ShipEase's technology-driven approach to reduce logistics costs and speed up delivery times.
“Logistics play a pivotal role specially for D2C brands as managing supply chain is one of the biggest cost heads. For new and emerging brands, to build their own supply chain pan India, is a multi-crore commitment. However, ShipEase's platform and their tech approach can help brands reach their customers faster while keeping logistics costs low,” said Ramasubramanian.
ShipEase's technology-enabled logistics solution provides end-to-end automation for various delivery requirements, including product tracking and Non-Delivery Report (NDR) management. This comprehensive solution, combined with the founders' domain expertise, cost-effective methods, and robust technology, positions ShipEase as a preferred partner for brands and SMEs, said the company.
Pawan Kumar, Founder of ShipEase said that the company's desire to be seen as a tech-savvy organization by the D2C community and offline brands. “We would like to project ourselves as tech savvy organization for D2C community and offline brands right from managing the production, inventory control, supply chain followed by logistics,” he said.
The company said that it currently serves over 2000 clients, handling more than 3.5 lakh shipments per month, and operates with a double-digit positive EBITDA as of July 2023.
The Supply Chain Management Market was valued at approximately $26.8 billion in 2022 and is expected to reach around $62.20 billion by 2030, with a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030.