Logistics Firm Pidge Secures INR 120 Cr Funding The Gurugram based startup aims to use the fresh funds to expand in tier II and III markets, enhance its product and technology with AI driven upgrades, and strengthen organisational capacity for scalable operations.
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Logistics firm Pidge has announced the raising of INR 120 crore in a round led by La Vida es Chula, the entrepreneur-led fund founded by investor Thomas Meyer. Existing backers also participated in the round.
In March 2023, it raised USD 3 million in a pre Series A round led by Mountain Partners, with participation from Indian Angels Network (IAN).
The Gurugram based startup said the fresh capital will be used to deepen its presence in tier II and tier III markets, strengthen its product and technology stack with continued investment in AI and data science, and build organisational capabilities for scalable operations.
Pidge also plans to pilot its logistics operating system in select international markets with similar digital and growth characteristics.
Founded in 2019 by Ratnesh Verma and Rushil Mohan, Pidge offers an AI enabled logistics intelligence and fulfilment platform that supports same day delivery, route optimisation, real time tracking and access to a wide network of delivery partners.
The startup said it has achieved 10 times year on year growth and is operating at an annualized run rate of INR 250 crore. It added that its valuation has increased more than 5 times since its previous fundraise in 2023.
It currently serves more than 20000 brands across over 50 cities.
Pidge competes with players such as Shadowfax, Dunzo, LoadShare and Blowhorn.
