On Thursday, eShipz, a SaaS-based firm that automates shipping for small and large businesses, announced that it had raised $700,000 in a funding round headed by Indian Angel Network. Axilor Ventures, an existing investor, took part in the round. Axilor, JioGenNext, SAP Startup Studio, and IIM-B NSRCEL are among the incubators for the company.
Shashi S Tripathi, Shivadeep Mahadi, and Ajaykumar R, members of the founding team, discovered holes in the supply chain and logistical assistance for enterprises. They commercially launched eShipz in January 2020, after recognising the demand for shipping automation in the B2B industry.
Commentiing on the development, Shashi Tripathi, Co-founder of eShipz, said, “There are hardly any players in the market offering full-stack shipment solutions, which can fit into requirements of small SMBs to large corporates. Through eShipz, we are helping businesses in improving supply chain efficiency and reducing operational hassles and related costs.”
Prashant Jain, Lead Investor at IAN said, “Indian express courier industry processes more than 2.8 billion packages annually, growing rapidly at a CAGR of 19 percent YoY. The pandemic and online retail continue to accelerate the demand. Against this backdrop, the solutions of eShipz are well-placed to help lakhs of large as well as small online businesses by saving them time and money. We believe eShipz will emerge as a leader in the space. We wish the founders good luck in their future endeavours.”
Nandan Venkatachalam, Deal Lead, Axilor said, “eShipz is digitising a traditional supply chain which has low technology adoption. SMB digitisation is a core theme at Axilor and eShipz’ growth and scale is a great example of the opportunities in this space”.