[Funding] Pickrr raises $4 million in round led by Guild Capital and Omidyar Network India

Pickrr Technologies Private Limited is one of leading Indian logistics tech startup. The company today announced that it has raised $4 million in funding. The round was led by Guild Capital and Omidyar Network India. The AI and cloud-based platform automates shipping for businesses and provides seamless multi-channel order management solutions. Further, the startup had been bootstrapped by its founders. Thus, with support from angel investors, this is Pickrr’s first institutional raise. Boutique Investment Bank, Dexter Capital was the exclusive financial advisor for the transaction.

The round is one of the largest service footprints among SaaS logistics providers. Pickrr serves 26,000 pin-codes and handles 1.5 million shipments in a month. During this festive season, Pickrr’s volumes have grown over 400% year-on-year. This follows on from aggressive growth over the last 12 months.

Pickrr will use the investment to continue its market expansion and product development. The core of Pickrr’s technology remains its smart machine learning-based algorithm called CALCULA. Calcula provides courier recommendations aimed at improving delivery performance.

From the founder

Rhitiman Majumdar, Co-Founder, Pickrr, said, “We are delighted to be partnering with Guild Capital and Omidyar Network India. We aim to create a brand that online sellers use for 'anything and everything related to logistics'. This includes- Warehousing & Fulfilment, Cross border Logistics, B2B Logistics, and more. We are also planning to provide our tech solutions to aggregators and franchisees; so that we can manage their shipments through a single end to end platform. We aim to help become growth drivers to their sellers and not just logistics service providers. Pickrr also plans to enhance services that decrease the cost and the inconvenience of logistics while also helping them to increase revenues.”

From the investors

Badri Pillapakkam, Partner, Omidyar Network India said, “Pickrr’s focus on helping small businesses get access to best-in-class logistics services resonates with our objective of helping every Indian realise the power of the internet. With Pickrr’s help, MSMEs can digitise their shipping workflow, lower their courier rates and most importantly improve the efficiency of delivery, which results in greater revenue. Further, its smart pricing structure allows for healthy margins in an otherwise low margin business. Pickrr's partnerships across distribution networks and its comprehensive shipping solutions also fit well with our 'full-stack logistics solutions for MSMEs’ investment thesis. We are excited to partner with Rhitiman, Gaurav and Ankit and help them scale to the next level.”

Apoorv Gautam, India Head and COO of Guild Capital, said, “Logistics in India comes under a highly unorganised market. It is ripe for tech-disruption. Pickrr’s unique SaaS platform is a full-stack logistics solution which provides smart order fulfilment and machine-learning-based courier recommendations. We also believe that Pickrr will pave the way for solving logistics-related challenges for a large number of e-commerce sellers at scale. We look forward to partnering with the Omidyar, network team to support Pickrr in its growth journey and help realize its vision.”

With online shopping and ecommerce showing double-digit growth, Pickrr also aims to continue customer acquisition as a key driver of growth in the coming year.