Logistics firm Pidge announced that it has secured $3mn in funding led by Mountain Partners, leading European VC, Indian Angel Network (IAN) and other investors to expand its logistics SaaS solution.
The funding will be used to make last-mile technology accessible to all businesses, with Pidge SaaS offering end-to-end last-mile solutions for businesses with their own fleet and Pidge Network enabling seamless last-mile fulfillment for other businesses.
The company offers a hybrid fulfillment platform that combines SaaS and network capability, providing an end-to-end solution to customers for growing their revenue, reducing costs, and improving customer experience.
Ratnesh Verma, Founder & CEO of Pidge said, “We are delighted to have the backing of Mountain Partners. Their global presence, experience in technology led businesses, and a deep belief in Pidge’s proposition is exciting. We are also encouraged by our existing investors, IAN’s participation in this round. Our purpose is to enable businesses to grow by building an ecosystem of accessible SaaS products and services.”
Rushil Mohan, Co-Founder and Chief Product & Technology Officer said, Pidge is committed to making last mile technology accessible to all businesses. Pidge SaaS will provide end-to-end last mile solutions for businesses with their own fleet while Pidge Network will enable seamless last mile fulfilment for all other businesses,”
Dr. Cornelius Boersch, Founder and CEO Mountain Partners said, “I am excited to invest in Pidge, as they revolutionise the Indian e-commerce ecosystem with their last-mile logistics SaaS. Having invested in multiple successful technology companies around the world, I am impressed by how Pidge software-as-a-service onboards small and medium businesses (SMEs), empowering them through accessible technology. I am looking forward to seeing the impact of this technology in a fast-developing country like India,”
Jorge Perez, Investment Director at Mountain Partners said, “I believe the growth of small and medium businesses (SMEs) is critical to build resilient and sustainable economies. Ratnesh and Rushil’s unconventional approach to understanding the problems in India’s last-mile delivery together with their deep knowledge of the logistics ecosystem, has resulted in them building a truly end-to-end SaaS solution that could become a game changer,”
Padmaja Ruparel, Founder and CEO of Indian Angel Network said, “Pidge was an existing portfolio company of IAN and we are thrilled to participate again in this round. We support Pidge’s direction to enable MSME growth through their SaaS plus Network proposition. IAN’s core value is to empower the startup ecosystem and fully aligns with Pidge’s vision of enabling growth for small businesses. Their focus on offering an easy-to-use logistics SaaS solution is valuable to many of our current portfolio companies, and can be a game-changer for India’s over 60 million MSMEs. We are also very impressed with Ratnesh as a Founder, his ability to build a sustainable and scalable business, acts as a good reference to other startup founders,”