Funding Alert

OORJAA Secures INR 5.35 Crore in Funding Led by IPV

• ByStartupStory     |    October 12, 2023

OORJAA, a company providing logistics solutions, has successfully raised INR 5.35 crore in its pre-Series A round led by Inflection Point Ventures (IPV), along with participation from Vinners Platform, Soonicorn Ventures, and HEM Angels. This funding will be utilized to expand the PiE KART platform, advance technology, and expand the team. OORJAA is focused on leveraging modern technology to enhance efficiency, visibility, and stability in last-mile and mid-mile deliveries. The recently launched app-based product, PiE KART, offers an affordable, reliable, and eco-friendly intra-city delivery solution. It fulfills the specific needs of small and medium-sized enterprises (SMEs) by effectively allocating shared trucks for same-day delivery.

Mitesh Shah, Co-founder of IPV, emphasized the importance of transforming the logistics landscape. He stated, “The logistics industry plays a crucial role in almost every business. However, it is quite disorganized due to its multi-dimensional and unregulated factors. OORJAA has embarked on a transformative journey to address these challenges, providing an end-to-end automation solution for diverse distribution needs.”

Sandeep Patil, CEO and Co-founder of OORJAA, highlighted the company’s impressive five-fold growth since round 1 led by IPV. He said, “With this round 2 funding and the recent launch of PiE KART, we are entering the next phase of our expansion. Our commitment is to bring a revolution in last-mile and mid-mile logistics using advanced technology. Under the leadership of IPV, our investors have played a crucial role in elevating our journey to new heights.”

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OORJAA operates in more than 40 cities across India, managing the delivery of over 22 million tons monthly. Recognizing their significant contribution to the logistics industry, OORJAA was named one of the top 10 logistics startups by Industry Outlook in 2021. The Indian intra-city logistics market, estimated at $4 billion, demonstrates an estimated 12% compound annual growth rate (CAGR) year-on-year. This indicates ample growth potential and opportunities in the Indian logistics industry. OORJAA is on a mission to reshape the logistics landscape with the expertise of experienced industry specialists and strategic advisors, assisting businesses in thriving in today’s rapidly evolving markets.

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