Pidge raises Rs 120 Cr in growth capital led by LVEC

Pidge, a supply marketplace and interoperable last-mile logistics platform, has raised Rs 120 crore ($13.6 million) in growth capital led by La Vida es Chula (LVEC), the entrepreneur-led capital fund founded by entrepreneur and investor Thomas Meyer, along with participation from its existing investors.

The Gurugram-based company had previously raised $3 million in a pre-Series A round led by Mountain Partners in March 2023.

The proceeds will be utilized for deeper penetration into tier II and tier III markets, establishing product and tech leadership, and piloting its logistics operating system in select international markets, Pidge said in a press release.

Co-founded in 2019 by Rushil Mohan and Ratnesh Verma, Pidge is a technology-driven logistics intelligence platform committed to enabling reliable, flexible, and secure last-mile deliveries for businesses and individuals. The startup empowers enterprises across sectors such as quick commerce, e-commerce, retail, pharma, apparel, and F&B delivery to streamline operations and deliver excellence.

Pidge aims to digitally equalize the logistics ecosystem and become the Operating System (OS) for last-mile delivery. Its proprietary technology stack, including industry-first innovations like Titan and MORRE, forms the backbone of its AI-led reliability engine.

According to Pidge, it functions as a comprehensive operating system, integrating visibility, routing, allocation, analytics, and vendor interoperability under one intelligent platform, effectively bridging the gap between the organized and unorganized sectors.

“As India manifests its vision of single-digit logistics costs and 2x e-commerce every 3 years, Pidge is poised to be the foundation for that growth with the country’s largest interoperable last-mile logistics platform,” said Ratnesh Verma, co-founder & CEO, Pidge.

Through its AI-powered, interoperable platform, the company claims that it serves over 20,000 brands across more than 50 cities, with a growing network of recognized partners including Zomato, Swiggy, KFC, Tata1mg, EatClub, Snitch, and more. It has achieved 10x year-on-year growth and is currently operating at an annualized run rate of Rs 250 crore.

It competes with other major players in this space such as Shiprocket, Holisol, ShipBob, and others.