Maritime Procurement Startup: Shipskart raises $2.7 Mn in Series A funding
- ByStartupStory | March 17, 2022
Shipskart, a B2B supply chain startup in the maritime and offshore segment raised about $2.7 Mn in a Series A funding round led by Trail Mix Ventures (TMV) and Hermes Offshore. The round also saw participation from Tradeworks.vc, Motion Ventures and Eternia Investments.
The startup said that for its India operations 80 percent of the funds would be utilised, will be providing a big chance to the mid-segment shipping companies and suppliers in order to empower and streamline their procurement lifecycle with a solution.
Shipskart was founded in 2017 by Dhruv Sawhney, along with Sunny Bagla and Vivek Sahi. It works as a B2B online marketplace where ports, vessels, vessel managers, and shipyards can purchase marine products, equipment, consumables, and service products that are required for efficient operations onboard ships. Currently, the company claims to have 500 partners across 40 countries.
Establishing dedicated aggregator centres across Indian ports to completely revolutionise the unstructured marketplace of Maritime, the startup also plans to collaborate with FMCG giants and Original Equipment Manufacturers (OEMs).
Mumbai and Cochin, currently has fulfilment centres of Shipskart and in the next one year it plans to expand its centres in Chennai, Gujarat, Visakhapatnam, and Kolkata. The startup plans to increase its sales by 100 per cent this year, with its annual upscaling trending graph. Previously, in September 2020 it had raised $225K in Pre Series A funding round.
For maritime procurement, which is accessible to ships, ship managers, vendors, and owners, Shipskart has a mobile app, available on both iOS and Android. The quasi-manual procurement system in the sector is deeply inefficient, and leads to wastage of both time and money, states the startup.
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