Company Name : Shipsy
Funding Amount : $1 million
Funding Round : Pre-Series A
DTDC Express has picked up 20% stake in C2C logistics company Shipsy by investing over $1 Million.
Gurgaon based Shipsy which is run by Llama Logisol was founded in June 2015 by Soham Chokshi, Dhruv Agrawal, Maharshi Devraj and Himanshu Gupta – alumni of IIT Madras and IIT Delhi.
Shipsy is backed by Dheeraj Jain (managing partner of Redcliffe Capital) who led the angel investment round last September.
The investment from DTDC will be used to strengthen the core technology infrastructure and build on the solutions being offered. The association with DTDC would also ensure stability in revenues, with the company hoping to achieve breakeven within the next financial year.
Shipsy’s cofounder – Soham Choksi, said, “The partnership with DTDC is a mutually beneficial one and would help Shipsy establish itself as a leader in the space of creating platforms for data-driven decision making. With the traction growing at a very fast rate in the platform business, Shipsy would be having away the C2C operations in the medium term to focus on building its position in the enterprise space.”