Smart Express, a logistics startup based in Mumbai, is beginning with a seed financing of Rs 100 crore. IIFL India Private Equity Fund and Smiti Holding & Trading Company are leading the round.
The funding will be used to grow teams and build Pick-Up and Delivery (PUD) and transit hub infrastructure to serve clients throughout India. Other significant areas where the funds will be used include the development of unique and cutting-edge technologies to support operations and the creation of creative solutions that will allow clients to receive best-in-class services at the best possible price.
Yogesh Dhingra, Managing Director and CEO, Smart Express, said,“We are committed to building a platform that provides high service quality and better products for our customers at competitive price points through transparent process. Our state-of-the-art technology will help provide 360 visibility, faster transit time and better customer experience. To make a difference in the market, we are also creating a future ready team that has a combination of industry experience, passion and energy.”