Pickrr raises $12M in Series B round
The round was led by IIFL, Amicus Capital, and Ananta Capital along with existing investors Omidyar Network India and Guild Capital.
According to Rhitiman Majumder, Co-founder and CEO, Pickrr, they are willing to use the fresh capital to strengthen technology, warehousing solution, and expanding the leadership team. Moreover, expansion of the network of fulfillment centers across the country, drive product development and R&D are also top priorities of the company. Pickrr is seeking to move towards creating a seamless end-to-end fulfillment offering for SMBs, including retailers, marketplace sellers, and D2C brands; and this funding would help a lot.
“Pickrr’s vision 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 to reduce the delivery time for every e-commerce seller from an average of 5-6 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-commerce operations 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,” Rhitiman added.
Rhitiman Majumdar, Gaurav Mangla, and Ankit Kaushik are the IIT graduates who founded the company back in August 2015 and seek to provide an end-to-end, plug-and-play logistics solution for e-commerce sellers and D2C brands to ship products from anywhere in India to end customers without any hassle in price negotiations, courier partner selection, and data analytics.
By using the power of AI and ML to provide data-driven insights to more than 50,000 sellers on its platform, they seem to have jumped three-fold in daily orders in 2021 and the order volume on its platform continues to grow steadily.
Pickrr is offering to ship to 29,000+ pin codes and 220 destinations across the globe and currently has about 25 delivery partners on board. Moreover, their one-click easy integration with over 25 partners like Amazon, Shopify, and WooCommerce makes Pickrr a preferred eCommerce fulfillment platform for SMBs.
Pickrr’s platforms include Emami, Oziva, Healthkart, and Bellavita Organics as some of the clients. Being an intelligent warehousing/fulfillment solution to help sellers manage their inventory without investing in a physical warehousing space or expensive WMS solutions, the startup recently strengthened its foothold in the warehousing segment with the launch of Pickrr Plus.
Amit Mehta from IIFL 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.”
CALCULA, the core of Pickrr’s technology lies in its proprietary algorithm suggests that the best courier partner that can be used considering historical data on multiple parameters that helps sellers decrease RTO percentages.
Moreover, Pickrr offers RTO reduction, real-time NDR management, real-time shipment tracking, invoicing, and COD management to help bring efficiency to the seller’s logistic setup while reducing cost at the same time.
Pickrr seems to be an interesting platform offering logistics services integrated with AI and ML. Given its amazing journey so far, I’m sure the company will grow multifold in the time to come. My best wishes to the team of Pickrr.Shishir Gupta, Founder and CEO, StartupLanes
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