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HomegooglenewsZipaworld Innovation plans to raise USD 0.5 mn at USD 14 mn...

Zipaworld Innovation plans to raise USD 0.5 mn at USD 14 mn valuation

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 mobilize 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 utilized 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 IAS DRR

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