Pidge has raised USD 1 million led by Indian Angel Network (IAN).
Pidge will use the funds for expanding its presence to Chandigarh and building on the product pipeline. The funding would also aid the platform to consistently invest in building its tech capabilities to deliver unprecedented routing and assignment efficiencies.
The logistics company has recently launched its services in the Chandigarh Tricity area guaranteeing its business partners same day delivery even if the pickup was from Delhi. Pidge has an exciting pipeline of projects including hybrid SaaS and service fulfilment solutions.
Expanding on the fundraise, Ratnesh Verma, Co-Founder of Pidge said, “We saw an enormous opportunity in the last mile logistics space driven by behavioral changes in the supply and demand side and compounded by the problems created by current incumbents. Pidge leverages its proprietary modular SaaS solution and game changing algorithms to deliver unparalleled latency optimisation; while combining the coverage of traditional logistics with the convenience of on-demand hyperlocal services. We are excited to be a part of IAN’s network and welcome accomplished individual investors to help Pidge be the best last mile logistics company.”
“The last mile logistics industry in India is $40 bn today, and expected to grow to $100 bn by 2025. Of this market, over 75% is currently still unorganised and over 80% is reliant on captive fleet. This is where Pidge steps in. Pidge is streamlining the reliability of old-school logistics with the dynamism of hyper-local services. The mindset, the very notion of ingenuity is embedded within the platform with its disruptive technology and unique operating processes. But what excited us most is Ratnesh’s ability to build quickly, test accurately, and scale sensibly, and Rushil’s highly consumer- and data-centric approach to Pidge. We are excited about Pidge’s journey ahead,” said Padmaja Ruparel, Co-Founder, IAN.
Founded by Ratnesh Verma and Rushil Mohan, Pidge is a logistics company that has combined the reliability of traditional logistics with the convenience of hyper-local services. Pidge, through its proprietary and disruptive technology, unique operating processes, fulfils omni-category requirements in an on-demand, instant and radius-free manner. Founders Ratnesh and Rushil self-funded the company with US$2 million.
Pidge has disrupted the demand and supply dynamics of same-day delivery. The company has been able to provide guaranteed, reliable, and instant delivery to all types of businesses – from artisans and SMEs to major, national brands. Pidge’s proprietary algorithms in real-time order clubbing and dynamic batching, with disruptive operational processes ensure minimised lead times. Pidge leverages its micro-fulfilment centers (Pidge Houses) to cater to the needs of its business partners for faster and better controlled deliveries.
Pidge has developed a suite of seven modular SaaS products that will deliver 360° value capture. The startup has developed a unique yield optimisation business model that is built on dynamic pricing and demand predictability. Pidge’s adaptive operating processes are effective across product segments. Their diverse roster of business partners includes luxury brands, five-star hotels, legacy restaurants and national level e-commerce players including large marketplaces.