Ecommerce fulfilment platform Zippee has raised an undisclosed amount of funding from snacking giant Haldiram’s and other prominent angel investors.
The round also saw participation from institutional investors such as FounderBank Capital, PiperSerica and Misfits Fund. The angel investors that participated in the capital raise included Ashneer Grover, CRED’s Kunal Shah, Peyush Bansal of Lenskart, EaseMyTrip’s Prashant Pitti, and Aakash Anand of Bella Vita Organic.
The startup will use the funding to expand its footprint to 15 new cities and strengthen its stack. A part of the capital will also be deployed to ramp up hiring across multiple verticals.
Commenting on the fundraise, Zippee founder Madhav Kasturia said, “We’re excited to have an icon like Haldiram’s and more of our country’s best-known founders place their conviction towards our mission to democratise Amazon-grade logistics for 100,000 ecommerce brands by 2025.”
Founded in 2021 by Kasturia, Zippee (formerly known as ZFW Dark Store) enables D2C brands to offer same-day deliveries to its ecommerce customers. By connecting their online stores to Zippee’s ecommerce fulfilment platform, D2C brands can quickly initiate same-day deliveries by using the startup’s darkstore network.
Prior to the current round, the startup has raised $1.7 Mn in funding since its inception. Zippee is backed by the likes of investors such as US-based logistics fund Riso Capital, South Asia Tech Partners, among others.
The startup counts names such as The Face Shop, Epigamia, Clinikally, Power Gummies, Anveshan, SEPOY&CO, and Haagen-Daaz, among others as its customers.
The homegrown D2C market has seen explosive growth in the past few years largely on the back of pandemic-induced growth. The uptick in numbers has also spurred the homegrown ecommerce fulfilment space which has also grown at a rapid pace in the last few years. As ecommerce penetration increases, ecommerce brands are also looking for efficient and effective means to deliver their goods without any delays.
This has spurred the rise of the ecommerce fulfilment segment which is projected to have generated a market value of $55 Bn at the end of financial year 2021-22 (FY22).
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