Ecommerce fulfilment platform Zippee raised an undisclosed amount of funding from Haldiram’s, a snacking giant, and other prominent angel investors. The funding round also saw participation from institutional investors, including FounderBank Capital, PiperSerica, and Misfits Fund. Notable angel investors who contributed to the capital raise were Ashneer Grover, Kunal Shah of CRED, Peyush Bansal from Lenskart, Prashant Pitti of EaseMyTrip, and Aakash Anand from Bella Vita Organic.
The startup plans to utilize the funding to expand its operations to 15 new cities and strengthen its overall infrastructure. Additionally, a portion of the capital will be allocated towards increasing hiring across various verticals. Madhav Kasturia, the founder of Zippee, expressed enthusiasm about the fundraise, stating, “We’re excited to have an icon like Haldiram’s and more of our country’s best-known founders show their confidence in our mission to democratize Amazon-grade logistics for 100,000 ecommerce brands by 2025.”
Zippee, formerly known as ZFW Dark Store, was established in 2021 by Madhav Kasturia. The platform enables direct-to-consumer (D2C) brands to provide same-day deliveries to their ecommerce customers. By connecting their online stores to Zippee’s ecommerce fulfilment platform, D2C brands can efficiently initiate same-day deliveries using the startup’s darkstore network.
Prior to this funding round, Zippee had already raised $1.7 million in funding since its inception. The startup has received backing from investors such as US-based logistics fund Riso Capital and South Asia Tech Partners, among others. It boasts an impressive clientele including brands like The Face Shop, Epigamia, Clinikally, Power Gummies, Anveshan, SEPOY&CO, and Haagen-Daaz.
The domestic D2C market has witnessed tremendous growth in recent years, largely fueled by the surge in online shopping during the pandemic. This upward trend has also spurred the development of the homegrown ecommerce fulfilment space, which has experienced rapid expansion. As ecommerce penetration continues to increase, ecommerce brands are seeking efficient and effective solutions for timely product deliveries.
This has led to the rise of the ecommerce fulfilment segment, which is projected to have reached a market value of $55 billion by the end of the financial year 2021-22 (FY22). Zippee’s latest funding will undoubtedly position the company to capitalize on this growing market demand and solidify its position as a key player in the ecommerce fulfilment industry.
