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Logistics platform Pidge raises $1 Mn

Logistics platform Pidge has raised $1 million from Indian Angels Network (IAN). Prior to this round, the founders self-funded the company with $2 million.

The Gurugram-based startup will use the funds for expanding its presence to Chandigarh where they have recently launched, upgrading its current tech stack and product pipeline. 

Founded in 2018 by Ratnesh Verma and Rushil Mohan, Pidge is an on-demand last mile B2B logistics partner which operates across 5 cities in the Delhi NCR region including Delhi, Noida, Faridabad, Gurgaon and Ghaziabad.

The company’s proprietary algorithms in real-time order clubbing and dynamic batching ensures minimized lead times. The firm also leverages its micro-fulfilment centers (Pidge Houses) to cater to the needs of its business partners for faster and better controlled deliveries.

The company is targeting the Indian last mile logistics industry which is currently valued at $40 billion and expected to grow $100 by 2025.

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Logistics platform Pidge raises $1 Mn

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Below is the bank details:

 
Amount: INR 3,00,000 + GST (TDS to be deducted 2%)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
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