Indian logistics SaaS startup Elixia Inc has raised funds to expand into the Middle East, as well as in India and the USA.
The company had raised $1 million in its Pre-Series A funding round led by RVCF (Rajasthan Venture Capital Fund).
Elixia is a logistics startup which works with e-commerce providers to improve their last-mile delivery.
As such, a statement said that the company is in advanced discussions to raise funds to accelerate its expansion plans and improve its solutions.
According to its founder Sanket Sheth, approximately 35 per cent of the funds raised will be invested in India. This would raise the number of paying customers from 300 to 3,000 over the next two years.
In addition, the company intends to invest 35 per cent of the new capital to expand in the United States.
While some of its clients use the product in the country, the company will concentrate on market penetration and will invest in sales and marketing in the US region. The remaining 30 per cent will be invested in Mena expansion, particularly in the UAE, Saudi Arabia, and Egypt.
Elixia already works with Flipkart, India’s biggest e-commerce platform, next only to Amazon.
Flipkart recently partnered with Elixia Inc to digitise the e-commerce company’s last-mile logistics processes.
The collaboration entails the upkeep of freight masters, automated trip creation, track and trace, freight calculation, and billing compliance.
“Working with the Flipkart Team helped Elixia Inc to focus on providing an excellent platform which sets Elixia Inc Inc apart from the competition and creates maximum benefit and value for last mile deliveries. We look forward to working with the Flipkart team on several identified areas and creating continuous value towards digitalisation of their supply chain,” said Mr Sheth.
“We have already started acquiring customers, with [shipping company based in the UAE] Transworld being one of them. Moreover, there are a lot of them in the pipeline on the verge of conversion as our sales pipeline grows stronger in the region,” Mr Sheth concluded.
