30, Nov 2023
30th November 2023: ShipGlobal, a leading cross-border logistics platform, has announced that it has raised $2.5 million in funding from InfoEdge Ventures an early-stage VC fund backed by InfoEdge and Temasek. The funds will be utilized to accelerate technology capabilities, augment business operations, and expand to other countries, reinforcing the brand’s commitment to cross-border logistics innovation.
Co-founded by Aayush Anand, Angad Arora, and Vaibhav Kapur in 2022, ShipGlobal helps SMEs in India to go global by providing them with cost-effective and reliable logistics solutions. The platform simplifies international shipping for SMEs in India, offering a one-stop shop for a range of services such as customs clearance, tracking, and real-time rates.
Within a year of its operation, the company has expanded to over 15 regional offices in India and delivered over half a million packages having a gross merchandise value of over Rs.3,000 crores, solidifying its pioneer status in the cross-border logistics industry.
Speaking on the funding, Aayush Anand, Co-founder and CEO of ShipGlobal says, “We continue our path to become a preferred logistics partner for SMEs and look to leverage any strategic opportunities. The funding is an indicator of the company’s strong unit economics and the validation of our business model. With this round, we are aiming to elevate our technology, streamline operations, expand export routes, and optimize our network. We intend to be the guiding light for Indian SME businesses in global trade.”
In the dynamic global logistics market projected to reach $16,794.7 billion by 2032, ShipGlobal’s substantial funding is a notable leap forward in the mission to stimulate global trade expansion. Amidst the imperative of timely and secure product deliveries, the inclusion of tech features, including product tracking, elevates shipment security. With a team comprising domain experts, cost-effective strategies, and robust technology, ShipGlobal positions itself as a preferred partner for both customers and SMEs.