B2B Logistics tech platform Oorjaa raises around INR 9 Crores in Pre-Series A round led by Inflection Point Ventures
- Oorjaa is a technology-powered logistics solution for the Intra-City logistics market that delivers cost optimised & KPI driven logistics solutions to its clients.
- Funds raised to be used for the product and tech development and expanding to new geographies
- Promoting sustainability with EV Cargo Vehicles
- IPV has so far invested over Rs. 350 Cr across 110+ deals
A number of high-net-worth individuals (HNIs) also participated in the round, both personally and through Vinners’ angel investing platform. The funds will be used to focus on product and technology development, geographic expansion, and working capital requirements.
In late 2019, Sandeep Patil, Prashant Mohite, and Yogesh Parab founded Oorjaa, each with uniquely diverse and complementary skill sets.
Oorjaa provides highly effective technology-driven logistics solutions that are aided by transformative technology solutions such as auto-routing, network optimization, data analytics, trip management, and highly efficient operating processes run by the most skilled and trained manpower.
Their greatest strength is that they have proprietary tools for optimising logistics operations, as well as diversely skilled founders with decades of experience building products and businesses. With only Rs. 40 lakhs in founder capital and investment, they have bootstrapped to an impressive two-digit ARR. Since its inception in November 2019, Oorjaa has grown to 15+ cities, 30+ hub locations, and 4000+ orders per day with 200+ vehicles (inclusive of EV Cargo Vehicles, promoting sustainability). Some of the most well-known large e-commerce, food-tech, and e-grocery companies are among their B2B clients.
Mitesh Shah, Co-Founder, Inflection Point Ventures says, “Timely movement of goods without any damage to the product has always been the companies’ primary need. As many companies move high-value products or look for tracking of shipment, tech solutions are the go-to solutions. Understanding this gap, Oorjaa successfully designed a technology-enabled logistics solution which provides end to end automation for varied delivery requirements.” He further added, “The company has already witnessed a fast growth since 2019 and has some of the well-established brands as a part of its clientele like Flipkart Wholesale, Jio Mart, Udaan, Zomato Hyper pure, Big Basket amongst others. We look forward to extending our expertise in their growth journey.”
In the intra-city logistics segment, the problem exists in streamlining supply chain processes supported by real-time solutions to improve the delivery time. Oorjaa has built a smart tracker which tracks all the data from the order placed to POD (Proof of Delivery) and ensures the best results with a high rate of accuracy. They have also built a 5 step Intelligent Routing solution to get order inputs, identify optimal solutions, factor available vehicles, modify routes and formulate the final best-optimized route plans.
Sandeep Patil, CEO & Co-Founder, Oorjaa says, “Our experience of interacting with IPV has been very fulfilling with complete handholding during the entire process. Their quality of diligence and in-depth understanding of the space we are operating in tilted us to onboard them as lead investors in Oorjaa. In the last 2 years, we have achieved product market fit with bootstrapped capital. With this fundraise, we target to grow multi-fold across geographies and offer digitalized and intelligent logistics solutions to our clients with a sole focus to optimize their intra-city logistics requirements.”
The Intra City Logistics market is USD 3.5 Bn market & expected to grow by 2X by 2025. It is presently served by the unorganized and fragmented transporters with rudimentary working styles. Oorjaa aims to leverage AI/ML, IoT tools & intelligent route optimisation algorithms in future to aggregate demand & cross utilise assets (LCV such as TATA Ace/407 & Bolero), along with passing on some of the cost benefits to their clients. They envision becoming an intelligent, innovative and sustainable technology-powered preferred logi-tech solution provider by 2025. The team has a strong client pipeline for FY 22/23.
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