End-to-end online logistics platform in the long haul segment, ShipNext Solutions, has raised Rs 4.5 crore in its pre-Series A funding round led by Kerala-based Group Meeran, a family investment office that manages the private investments of the Meeran family – the promoters of the Eastern Group of Companies.
Founded in 2016 by Clive Jose, ShipNext enables seamless automated intercity freight transport through its completely online WeTruck Partners and We Truck app for fleet owners and customers, respectively. From order placement to proof-of-delivery (POD) verification, invoicing, generating lorry receipt and real-time payments, WeTruck offers the complete online procedure in the long haul segment. The company leverages a state-of-the-art ML and AI-based system to assist customers with predictive modeling too.
“To simplify and minimize the learning curve on our app, we have introduced a chat-based model similar to WhatsApp that most of our users are familiar with and can easily understand. This investment is an endorsement in ShipNext’s platform as well as our vision to empower customers and partners with the only end-to-end paperless logistics app that ensures a completely online model of business,” said Jose, Founder, and CEO, ShipNext Solutions.
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ShipNext will allocate the funds raised towards technological advancements, data acquisition, expansion of its customer, partner base, and scaling up the business. Currently, ShipNext processes over 3,500 annual orders on average and plans to increase that to 50,000 orders in the next two years. ShipNext counts Abref, Reliance Instruments, Alpha Packing, Renaizands Industries, Eastea Chai, and Stockarea among its customers.
Navas Meeran, Chairman, Group Meeran said, “We are excited about our investment and partnership with ShipNext. As per a recent report, the inter-city road logistics spend in India stood at $209 billion in 2021 and the road logistics market is expected to grow at 8 per cent CAGR making it a $330 billion market by 2025. We believe that there is potential to build more sustainable businesses in this highly competitive market.”
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