Mélange Finance

Pickrr raises funding of Rs 85 crore($12 Million) led by IIFL, Ananta Capital and Amicus Capital

Company will further focuson advanced product development, expand warehousing solutions and talent acquisition

Mumbai, 17thAugust, 2021: Pickrr, a SaaS based logistics-tech start-up providing complete logistics and warehousing solutions to small and medium businesses (SMBs), has raised $12Mn in Series B round led by IIFL, Amicus Capital and Ananta Capital.Existing investors Omidyar Network India and Guild Capital also participated in this round managed by Dexter Capital. 

Pickrr saw a 3x jump in daily orders in 2021 and the order volume on its platform continues to grow steadily. It uses the power of AI and ML to provide seamless end-to-end logistics and data-driven insights to 50,000+ sellers on its platform. The company currently offers shipping from and to 29,000+ pin codes in India and 220 destinations across the globe. Its one-click easy integration with over 25 online platforms like Amazon, Shopify and WooCommerce make Pickrr a preferred e-commerce fulfilment platform for SMBs. 

The funding will continue to drive product development and expand its network of fulfilment centres across the country. Pickrr’s solutions will be able to help SMBs including retailers, marketplace sellers and D2C brands, to improve their delivery performance and inventory management. 

Speaking on the development, Rhitiman Majumder, Co-Founder and CEO, Pickrr, said, “Pickrr’svision is to make logistics fast and seamless.This infusion of capital has further strengthened our path to deliver simplified solutions. Using technology to drive logistics automation, we aim toreduce delivery time for every ecommerce seller from an average of5-6 days to 1-2 days. With just one click access to our end-to-end logistics service, anyone from a small business to a D2C brand can set-up their e-commerceoperations seamlessly. As more and more SMBs come online, the need for end-to-end logistics services like ours will grow rapidly, giving us a great opportunity to scale with our clients.”
Ajith Nair, Directorat Amicus Capitalsaid, “Delivery delight has become a key differentiator for D2C brands and online retailers today. Pickrr, with its focus on technology and execution, has enabled a number of consumer brands of different sizes to optimize their logistics operations to reach out to a larger market in a fast and cost-efficient manner.We are excited to join hands with the founders Rhitiman, Gaurav and Ankit, and the strong team that they have built, as they scale their network and apply technology to solve their customers’ logistics needs.”

Principal at IIFL Private Equity,Amit Mehta said, “As small businesses come online we believe that businesses like Pickrr which streamline the post checkout experience will have a multi-decade growth runway. The founders have focused on flawless execution and technology which has enabled Pickrr to distinguish itself. We are excited to partner with them as they create a great customer experience for small businesses coming online.”

Sharing his views,BadriPillapakkam, Partner at Omidyar Network India, said “Logistics is the backbone of Indian e-commerce and a large employer of the Next Half Billion. Pickrr has perfected a model to serve the smallest of SMEs with delivery and warehousing solutions in an asset-light and profitable manner. This fund-raise is a validation of their growth, and will be used forproviding new offerings to Pickrr’s clients, allowing them to compete against large e-commerce marketplaces. We are thrilled to continue backing a mission-aligned set of founders who are transforming the logistics landscape.”

Some of the clients on Pickrr’s platform include Emami, Oziva, Healthkartand Bellavita Organics. The company recently strengthened its foothold in the warehousing segment with the launch of Pickrr Plus – an intelligent warehousing/fulfilment solution to help sellers manage their inventory without investing in a physical warehousing space or expensive WMS solutions. 

Disclaimer: The following Press Release comes to you under a network of a strategic syndication partnership with PR Newswire. Prittle Prattle News takes no editorial responsibility for the same.

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