Pickrr raises $4 mn in funding

New Delhi: Logistics tech startup Pickrr Technologies on Tuesday said it has raised $4 million (about Rs 29.4 crore) in funding led by Guild Capital and Omidyar Network India.

Having been bootstrapped by its founders, with support from angel investors, this is Pickrr's first institutional raise, a statement said.

Pickrr will use the investment to continue its market expansion and product development, it added. Dexter Capital was the exclusive financial advisor for the transaction. Pickrr is an AI-enabled and cloud-based platform that automates shipping for businesses and provides seamless multi-channel order management solutions.

It serves 26,000 pin codes and handles 1.5 million shipments in a month. During this festive season, Pickrr's volumes have grown over 400 per cent year-on-year, which follows aggressive growth over the last 12 months, the statement said.

"Our aim is to create a brand that online sellers use for 'anything and everything' related to logistics." This includes warehousing and fulfilment, cross border logistics, B2B logistics, and more.

"We are also planning to provide our tech solutions to aggregators and franchisees so that we can manage their shipments through a single end-to-end platform," Pickrr co-founder Rhitiman Majumdar said.

The company's goal is to help become growth driver to their sellers and not just logistics service providers, Majumdar added. Pickrr is also planning to enhance services that decrease the cost and the inconvenience of logistics while also helping them to increase revenues, Majumdar said.