Shipsy Raises $25 Mn In Series B Co-led By A91 Partners, Z3 Partners, Others

Shipsy, SaaS-based smart logistics management platform provider, has raised $25 million in a Series B round co-led by A91 Partners and Z3 Partners along with existing investors Info Edge and Sequoia Capital India’s Surge.

The company plans to use the funding to continue growing its stronghold in the Middle East, India and Southeast Asian markets while accelerating global expansion into new markets such as Europe and US. In addition, Shipsy will also be using the funds to drive rapid technological innovation with a greater focus on enhancing sustainability outcomes in the global logistics industry and their platform’s AI, Machine Learning and Blockchain capabilities, it said in a press statement.

“We are thrilled to partner with seasoned investors with a common vision to transform the global logistics industry using a technology-first approach,” said Soham Chokshi, CEO and Co-Founder Shipsy.

“Shipsy’s technology offering enables them to be the single partner of choice for enterprises who are transforming their logistics operations,” said Kaushik Anand, Partner at A91 Partners.

Gautam Patel, Managing Partner, Z3Partners, said, “Shipsy is building a comprehensive customer-first SaaS company servicing a critical need in shipping, freight and the entire global supply chain.”

Sanjeev Bikhchandani, Founder and Executive Vice Chairman of Info Edge, said they have been backing Shipsy from a very early stage..

This round comes on the back of Shipsy having raised a Series A funding of $6 million in 2020 led by Sequoia Capital India’s Surge and Info Edge. In 2021, to support a growing customer base in the Middle East, Shipsy established its regional HQs in Dubai and, more recently, in Indonesia for its Southeast Asian customers. The company also recorded a growth rate of 2.5x in its ARR and grew its customer base by 75 percent last year, it said.