Logistics platform Quickshift raises $2.4 million from Atomic Capital, others
Third-party logistics provider Quickshift has raised $2.4 million (Rs 22 crore), in a round led by Atomic Capital with participation from Axilor Ventures and other investors.
Quickshift offers full stack supply chain and fulfilment services to direct-to-consumer brands and ecommerce and quick commerce businesses. The Pune-based company leverages AI in its operations.
“The funds will be deployed in our AI-led fulfilment platform, used to strengthen our leadership team, and expand operations to more cities including Hyderabad, Ahmedabad, and Lucknow,” said founder and CEO Anshul Goenka in a conversation with ET on Tuesday.
The platform currently operates in key cities such as Mumbai, Delhi, Bengaluru, Kolkata, Chennai, and Pune.
“We are on a strong path of growth and profitability, having achieved 100% ARR (annual run rate) growth over the past 12 months. Our core business expanded 50%, while new services scaled over 100%,” Goenka added.
Founded in 2018, Quickshift handles over 10 lakh orders monthly for both D2C brands and marketplaces such as Amazon, Flipkart, Meesho, Blinkit, Zepto, Swiggy, Jiomart, and Bigbasket.
So far, it has raised $3.7 crore across multiple rounds.
“India’s online consumer market has been on a strong upward trajectory since the pandemic,” said Atomic Capital founder and managing partner Apoorv Gautam in a prepared statement. “As an early mover in this space, Quickshift has successfully capitalised this opportunity by offering a one-stop solution for logistics and operational needs across a wide spectrum of brands.”
Quickshift competes with Delhivery, Shadowfax, Shiprocket, and others. The segment has seen the entry of a wave of new-age, tech-driven delivery platforms, such as Zipee, Prozo, and Emiza.
Shadowfax has filed its updated draft red herring prospectus (UDRHP) with markets regulator Securities and Exchange Board of India (Sebi) for its initial public offering of approximately Rs 2,000 crore.
Quickshift offers full stack supply chain and fulfilment services to direct-to-consumer brands and ecommerce and quick commerce businesses. The Pune-based company leverages AI in its operations.
“The funds will be deployed in our AI-led fulfilment platform, used to strengthen our leadership team, and expand operations to more cities including Hyderabad, Ahmedabad, and Lucknow,” said founder and CEO Anshul Goenka in a conversation with ET on Tuesday.
The platform currently operates in key cities such as Mumbai, Delhi, Bengaluru, Kolkata, Chennai, and Pune.
“We are on a strong path of growth and profitability, having achieved 100% ARR (annual run rate) growth over the past 12 months. Our core business expanded 50%, while new services scaled over 100%,” Goenka added.
Founded in 2018, Quickshift handles over 10 lakh orders monthly for both D2C brands and marketplaces such as Amazon, Flipkart, Meesho, Blinkit, Zepto, Swiggy, Jiomart, and Bigbasket.
So far, it has raised $3.7 crore across multiple rounds.
“India’s online consumer market has been on a strong upward trajectory since the pandemic,” said Atomic Capital founder and managing partner Apoorv Gautam in a prepared statement. “As an early mover in this space, Quickshift has successfully capitalised this opportunity by offering a one-stop solution for logistics and operational needs across a wide spectrum of brands.”
Quickshift competes with Delhivery, Shadowfax, Shiprocket, and others. The segment has seen the entry of a wave of new-age, tech-driven delivery platforms, such as Zipee, Prozo, and Emiza.
Shadowfax has filed its updated draft red herring prospectus (UDRHP) with markets regulator Securities and Exchange Board of India (Sebi) for its initial public offering of approximately Rs 2,000 crore.
Next Story