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Friday, April 12, 2024

SaaS startup Pidge to revolutionize logistics operations with $3M funding

The most recent round of investment comes nearly two years after IAN invested $1 million in the firm in 2021. Pidge is a B2B logistics platform based in the Delhi-NCR region, founded in 2019 by Ratnesh Verma and Rushil Mohan. Pidge’s website claims to have facilitated 5 million+ deliveries and 300,000+ users.

Pidge, a logistics SaaS firm located in Gurugram, has secured $3 million in a Pre-Series A round headed by Mountain Partners, with participation from current investor Indian Angels Network (IAN).

According to Mint, Pidge intends to use the new funds to expand its logistics SaaS product. The current funding round follows IAN’s $1 million investment in the logistics SaaS business in 2021. Pidge’s creators put up $2 million before seeking investor funding.

Pidge is a B2B logistics firm founded in 2019 by Ratnesh Verma and Rushil Mohan. It has five locations in the Delhi-NCR region: Delhi, Noida, Faridabad, Gurgaon, and Ghaziabad.

Pidge’s website claims to have facilitated 5 million+ deliveries and 300,000+ users.

The company’s main products include order management, order tracking, and communication management. Pidge’s administration platform enables corporate users to successfully handle their orders. Furthermore, the startup’s exclusive algorithms in real-time order clubbing and dynamic batching guarantee that lead times are kept to a minimum.

Pidge’s order monitoring system employs patented tracking technology, allowing customers to track their riders in real time. This also enables organizations to achieve maximum first-time delivery success, eliminating the need for several delivery efforts and RTO in the event of delivery failure and, as a result, saving reverse logistics expenses.

The firm also employs micro-fulfillment centres (Pidge Homes) for faster and more precise delivery. Finally, the startup‘s communication management solution enables users to successfully interact with their consumers regarding deliveries, enhancing first-time delivery success even more.

Pidge competes with competitors such as Shiprocket, Pickr, Shipyaari, and FarEye in the highly competitive Indian logistics sector.

According to Inc42 statistics, India’s logistics SaaS and software solutions firms received $765 million between 2014 and February 2023. Freightify, a digital freight management firm, just raised $12 million in a Series A round of investment from Sequoia India, TMV, and Alteria Capital, among others.

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