Pickrr raises $12 million in series B round led by IIFL, Amicus Capital

August 11, 2021: The Gurugram-based SaaS-based logistics startup, Pickrr, has raised $12 million in a Series B round led by IIFL, Amicus Capital, and Ananta Capital. Existing investors Omidyar Network India and Guild Capital also participated in this round.

Rhitiman Majumder, co-founder and CEO, Pickrr, said, the fresh capital will be used to strengthen technology, warehousing solution, and expanding the leadership team, according to YourStory.

In 2015, Pickrr raised its seed funding from VC firm Palaash Venture, Gaana.com’s CEO Prashan Agrawal, BNT Talbros Group’s MD Karan Talwar and other HNIs and In 2016, Pickrr raised Series A round of funding from Hong Kong-based investment firm Swastika Company.

Pickrr raised $4 million in December 2020 when Guild Capital and impact investor Omidyar Network India backed the company with a $4 million infusion.

Pickrr in August also appointed Devesh Khandelwal as its chief revenue officer as per the long-term growth strategy of strengthening its foothold in India’s top metros and expanding in new markets by bolstering leadership ranks.

The company will continue to drive product development and R&D and expand its network of fulfilment centres across the country. He said the funding will also help Pickrr in moving towards creating a seamless end-to-end fulfilment offering for SMBs, including retailers, marketplace sellers, and D2C brands.

“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," said Majumder.

"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,” he added.

Founded by IIT graduates Rhitiman Majumdar, Gaurav Mangla, and Ankit Kaushik in August 2015, Pickrr is 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.

In a blog published by Omidyar Network India, it noted that they expect Pickrr to leverage its network of demand and supply-side partners to play a key role as an enabler to India’s sparkling e-commerce story.

"Our focus is on empowering small business owners, most of whose employees belong to the Next Half Billion segment. Pickrr also delivers on this front by helping these businesses as well as creating employment in the logistics and supply chain sector. By improving processes and efficiencies in this space even further, Pickrr has significant potential for creating far-reaching, long-term impact in the overall landscape and generate significant efficiencies and scale for the Indian e-comm and SME sectors," it reads.