Digital logistics startup Zipaworld Innovation announced on Friday that it plans to raise $0.5 million (approximately Rs 3.8 crore) at a valuation of $14 million, in a first round of investment from angel investors from the pharmaceutical and chemical industry. The startup plans to leverage the funds to mobilize and accelerate AI and ML-based logistics and supply chain services, anticipating market trends and risks as well as supporting consequential research and development , among others, he said in a statement.
“As per our strategy, we planned to be ready for investors by the start of the current fiscal year and we were able to stick to our strategy. This fiscal year, we are looking at an investment of $5 million, with a view to accelerating growth and expansion globally,” said Ambrish Kumar, Founder-CEO of Zipaworld Innovation Pvt Ltd.
In addition, the funds will be used to strengthen infrastructure; workforce expansion; penetration of the global market and development of an international network, he added.
Zipaworld said it has remained self-funded, which is part of its business strategy, adding that while researching, developing and upgrading technology is a constant process, the company is developing an online platform of integrated multimodal logistics for users first. types of investments could be pursued.
Zipaworld Innovation is the logistics start-up of Delhi-based parent company AAA 2 Innovate. The company serves over 25,000 PINs across India.
Summary of news:
- Zipaworld plans to raise over Rs 3.8 crore in seed funding round
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