Mumbai, May 13: Digital logistics startup Zipaworld Innovation on Friday said it is planning to raise USD 0.5 million (around Rs 3.8 crore) at a valuation of USD 14-million, in an early-stage round of investment from angel investors from the pharma and chemicals industry.
The startup plans to harness the funds to mobilise and accelerate AI and ML-based logistics and supply chain services, anticipating market trends and risks as well as to support consequent research and development, among others, it said in a statement.
Besides, the funds will be utilised to bolster the infrastructure; workforce expansion; global market penetration and elaboration of international network, it added.
“As per our strategy, we planned to be investor-ready by the start of the current financial year and we have been able to stick to our strategy. This financial year, we are contemplating an investment of USD 5-million, as we look forward to scaling up growth and expansion globally,” said Ambrish Kumar, Founder-CEO, Zipaworld Innovation Pvt Ltd.
Zipaworld said it has remained self-funded that happens to be a part of their business strategy, adding that while research, development and upgrading technology is a constant process, the company is developing an integrated multi-modal logistics online platform for the users before any kind of investments could be pursued.
Zipaworld Innovation is the logistics start-up venture of the Delhi-based parent company, AAA 2 Innovate. The company serves over 25,000 PIN CODES pan-India. (PTI)
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