Delhi-based AI-Powered Logistics Startup Shyplite Raises $1 Million From N+1 Capital
Delhi-based AI-powered logistics platform Shyplite has raised $1 million from N+1 capital, a revenue-based growth capital firm.
As per the startup, it will use the funds to support its expansion plans to enter the new segments like fulfilment centres and hyperlocal deliveries to become an end-to-end logistics player and add more experts on board.
The AI-powered logistics platform claims to have committed nine fulfilment centres across India in cities including Delhi, Mumbai, and Bengaluru. And with the aims to become an end-to-end logistics player, Shyplite is also bringing last-mile logistics players like Shadowfax, Dunzo and few others on its platform to help businesses with same-day and last-mile delivery service.
Started by Nisschal Jain, Sugam Jain and Parinay Itkan, Shyplite is a 360° logistics automation & fulfillment platform enabling businesses to automate their logistics and increase shipping efficiency by providing a single-window platform integrated with multiple carriers.
Speaking on the development, Nisschal Jain, Co-founder of Shyplite, said,
“Bootstrapped and profitable, this fresh capital comes at the opportune time as we enter into the next phase of Shyplite’s journey and will enable us to spearhead our growth vision and meet the rising demands from businesses to help them further streamline logistics function and add more growth led offerings.”
Claiming to be consistently profitable since 2017, Shyplite is trusted by 90,000+ sellers and on track to surpass 1 million shipments per month. With 160+ members in the team currently, Shyplite plans to hire an additional 140 people in one year to support its expansion drive.
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