Shipsy raised $6 mn in a funding round, co-led by Sequoia Capital India's Surge, and existing investor, Info Edge. The money raised will help enhance growth and enable to continue aggressive geographical expansion, besides investing in product innovation.
Shipsy is a SaaS based firm that helps shippers and logistics companies to digitise and automate their operations. The platform helps shippers reduce freight costs by automating and digitising freight negotiations, reducing incidental charges, significantly improving shipping turnaround time. This helps minimise working capital loss for shippers through advanced machine learning models.
"Owing to a substantial increase in the demand for our solution, it was important to leverage the momentum and look out for global investment partners in our next leg of our journey," said Soham Chokshi Shipsy Co-founder and CEO.