Total amount raised
$6 Millions
Latest funding date
3/1/2023
Location
Pidge has successfully raised funding through multiple rounds, with notable investors including Mountain Partners and IAN Group. The company focuses on providing last-mile logistics technology solutions, enhancing delivery efficiency for businesses.
Keep reading to explore the intricacies of Pidge's fundraising journey and the investors backing this innovative platform.
What Is Pidge?
Founded in April 2019, Pidge is a last-mile logistics technology company based in Delhi, India. The company was established by Ratnesh Verma and Rushil Mohan.
Pidge offers a comprehensive platform that includes a Hybrid Delivery Network, Smart Allocation, Omnichannel Integrations, and solutions to ensure zero unfulfilled demand. Their technology aims to optimize self-fulfillment and integrate seamlessly with major logistics providers.
With a team of 51-100 employees, Pidge is dedicated to enhancing delivery efficiency and improving customer experience for businesses.
How Much Funding Has Pidge Raised?
- Pre-Seed Round
- Amount Raised: $2M
- Date: April 2019
- Lead Investors: Ratnesh Verma
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bootstrap the initial development and launch of Pidge's logistics technology platform.
- Seed Round
- Amount Raised: $1M
- Date: November 2021
- Lead Investors: IAN Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and further development of its logistics technology solutions.
- Seed Round
- Amount Raised: ₹245M (approximately $3M)
- Date: March 2023
- Lead Investors: Mountain Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Pidge's logistics SaaS offering and create a hybrid fulfillment platform.
Total Amount Raised: $6M. Current Valuation: Not publicly disclosed.
Key Investors
- Mountain Partners
- Details: Mountain Partners is a leading European venture capital firm with a global presence. They specialize in technology-led businesses and have a strong track record of successful investments.
- Investment Focus Areas: Technology, early-stage companies, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- IAN Group
- Details: Indian Angel Network (IAN) is a network of angel investors in India that supports startups. They aim to empower the startup ecosystem by providing early-stage funding and mentorship.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Ratnesh Verma
- Details: Ratnesh Verma is one of the founders of Pidge and has been instrumental in its growth. He has a background in logistics and technology, contributing significantly to Pidge's strategic direction.
- Investment Focus Areas: Logistics, technology, startups.
- Notable Investments: Not publicly disclosed.
What's Next for Pidge?
With the Indian last-mile logistics industry projected to grow from $40 billion to $100 billion by 2024, Pidge is poised to capitalize on this massive opportunity. Their logistics SaaS solution, which has already enabled over 5 million deliveries, aims to revolutionize the sector by providing accessible technology to small and medium enterprises (SMEs). This expansion could significantly increase their market presence and user base.
Future fundraising seems promising, given the successful Pre-Series A round led by Mountain Partners. As Pidge scales its operations, additional funding rounds will likely be necessary to support technological advancements and market expansion. However, the company will need to navigate intense competition and ensure the scalability of its proprietary algorithms and micro-fulfillment centers to maintain service quality.
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