Oorjaa raises ₹9 crore in Pre-Series A round led by Inflection Point
Funds will be used for product and tech development, expanding to new geographies and on working capital requirements.
B2B logistics tech platform Oorjaa has raised around ₹9 crore in a Pre-Series A round led by Inflection Point Ventures.
The round also saw participation from a clutch of HNIs who have invested in a personal capacity and through Vinners angel investing platform. The funds will be used to focus on the product and tech development, expanding into new geographies and on working capital requirements.
Oorjaa was founded by Sandeep Patil, Prashant Mohite and Yogesh Parab in late 2019. Oorjaa offers highly effective technology-driven logistics solutions aided with transformative technology solutions on auto-routing, network optimization, data analytics, trip management and highly efficient operating processes run by the most skilled and trained manpower. Their biggest strength is having proprietary tools for optimizing logistics operations, diversely skilled founders with decades of experience in building products and businesses. They have bootstrapped to an impressive two-digit ARR with founders' capital and investment of just ₹40 lakhs.
Since its launch in November 2019, Oorjaa has expanded to 15+ cities, 30+ Hub locations, conducting 4000+ orders per day with 200+ Vehicles (inclusive of EV Cargo Vehicles, promoting sustainability). Their B2B clientele includes some of the most well-known large e-commerce, food-tech & e-groceries companies.
Mitesh Shah, co-Founder, Inflection Point Ventures says, "Timely movement of goods without any damage to the product has always been the companies' primary need. As many companies move high-value products or look for tracking of shipment, tech solutions are the go-to solutions. Understanding this gap, Oorjaa successfully designed a technology-enabled logistics solution which provides end to end automation for varied delivery requirements."
He further added, "The company has already witnessed a fast growth since 2019 and has some of the well-established brands as a part of its clientele like Flipkart Wholesale, Jio Mart,
Udaan, Zomato Hyperpure, Big Basket amongst others. We look forward to extending our expertise in their growth journey."
In the intra-city logistics segment, the problem exists in streamlining supply chain processes supported by real-time solutions to improve the delivery time. Oorjaa has built a smart tracker which tracks all the data from the order placed to POD (Proof of Delivery) and ensures the best results with a high rate of accuracy. They have also built a 5 step Intelligent Routing solution to get order inputs, identify optimal solutions, factor available vehicles, modify routes and formulate the final best-optimized route plan.
Sandeep Patil, CEO & co-founder, Oorjaa says, "Our experience of interacting with IPV has been very fulfilling with complete handholding during the entire process. Their quality of diligence and in-depth understanding of the space we are operating in tilted us to onboard them as lead investors in Oorjaa. In the last 2 years, we have achieved product-market fit with bootstrapped capital. With this fundraise, we target to grow multi-fold across geographies and offer digitalized and intelligent logistics solutions to our clients with a sole focus to optimize their intra-city logistics requirements."
The Intra City Logistics market is USD 3.5 Bn market & expected to grow by 2X by 2025. It is presently served by the unorganized and fragmented transporters with rudimentary working styles.
Oorjaa aims to leverage AI/ML, IoT tools & intelligent route optimisation algorithms in future to aggregate demand & cross utilise assets (LCV such as TATA Ace/407 & Bolero), along with passing on some of the cost benefits to their clients. They envision becoming an intelligent, innovative and sustainable technology-powered preferred logi-tech solution provider by 2025. The team has a strong client pipeline for FY22/23.
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