Shiplog raises Rs 6.5 crore seed funding

Gurugram-based logistics-tech startup Shiplog has secured Rs 6.5 crore in a seed round led by Mumbai-based Deepak Bhagnani Family Office.

This marks Shiplog’s maiden fund raising round since its inception in 2022, says an official release.

"The company will deploy the newly acquired seed capital to enhance and optimise its existing technological infrastructure, facilitate the expansion of its team across key verticals, and develop an innovative AI-driven inventory management system leveraging advanced predictive analytics for optimal inventory management."

Shiplog is currently focused on establishing a strong presence in the Delhi-NCR region, which represents the largest market for fulfilment through dark stores and quick deliveries in India, the release added.

Shiplog currently handles over 15,000 orders daily. The startup’s business model is built around providing rapid last-mile delivery solutions for D2C brands and e-commerce businesses, specialising in 4-hour, same-day, and next-day deliveries, the release added.

Kamal Sharma, Pratik Dasgupta and Shubhangi, Co-Founders, Shiplog says: "We are elated to have secured this seed round of investment. As we continue to disrupt the nation’s logistics industry through our dark stores, tech and delivery networks, we’re extremely grateful to our investor Deepak Bhagnani Family Office for expressing confidence in and backing our vision of revolutionising the quick delivery segment for D2C brands. Unlike traditional logistics service providers, which typically offer delivery times of 3-4 days, our seamless and reliable end-to-end solution enables same-day or next-day delivery. This allows our partnered brands to stay ahead of competition and cater to the rapidly evolving consumer demands of the e-commerce/D2C landscape. The funds raised in this round shall be instrumental to our growth and scaling in the near future, and also catalyse our long-term vision to be the leading brand in rapid delivery solutions for D2C brands in India."

Angel investor Deepak Bhagnani adds: "Following the rapid expansion of quick-commerce in our country in recent years, consumer preferences have increasingly shifted towards faster delivery options. Shiplog, with their promise of quick and efficient deliveries for online-first and D2C brands, is well-positioned to disrupt the industry through their last mile, superfast delivery solutions. We were impressed by the team's dedication and vision of the founders, and are now excited to contribute to the growth story of Shiplog as their investor."

Shiplog has successfully reduced return to origin (RTO) rates, enhanced delivery success rates (DSR) and achieved timely delivery within 7-8 hours for over 98 percent of orders for its partners. The startup is also using electric vehicle (EV)-based transportation solutions, the release added.