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Funding news

OORJAA raises Rs 5.35 Cr in pre-Series A round 2 led by Inflection Point Ventures

Oorjaa, a logistics solutions company, raised Rs 5.35 crore in its pre-Series A round 2 from Inflection Point Ventures (IPV), Vinners Platform, Soonicorn Ventures, and HEM Angels. It will use the funds to scale the PiE KART platform, advance its technology, and expand the team.

OORJAA utilises technology to drive efficiency, visibility, and sustainability in last-mile and mid-mile deliveries. Its recently launched app-based product, PiE KART, offers affordable, reliable, and eco-friendly intra-city delivery solutions. It accomplishes this by employing shared trucks for same-day delivery, catering specifically to the needs of small- and medium-sized enterprises (SMEs).

OORJAA operates in more than 40 cities across India, managing a monthly delivery volume of 22 million tonnes.

Other news

Digital lending platform LoanTap launches co-lending for after-pay merchant

Fintech firm LoanTap launched co-lending for the after-pay segment and has partnered with financial institutions such as Muthoot Finance and Mirae Asset as co-lending partners. 

This move will allow LoanTap to broaden its support to a wider array of retailers, thereby fostering growth opportunities for businesses of all sizes. By extending credit to this segment, both LoanTap and its co-lending partners share the risk involved, ultimately empowering them to allocate funds to a broader spectrum of retailers. 

LoanTap is transforming MSME financing by offering retailers a flexible and secure short-term revolving credit line ranging from Rs 25,000 to Rs 5,00,000, with repayment periods spanning 7 to 30 days.

Presently, LoanTap collaborates with prominent retail giants such as Saveo, Vaayu, L&T Sufin, and BigBasket for vendor finance.

ShipEase Technologies plans to double team size

ShipEase Technologies, a Gurugram-based logistics company, announced its plan to bolster its workforce by hiring twice the number of employees currently on staff. This strategic expansion comes on the heels of the company’s successful pre-Series A funding round, where it raised $1 million led by Inflection Point Ventures.

This funding will be instrumental in propelling the company’s growth and innovation efforts, enabling it to enhance its existing suite of products and services while expanding its global reach.

ShipEase plans to hire top talent across various departments, including software development, data analytics, customer support, and sales and marketing. By scaling up its team, ShipEase Technologies aims to accelerate product development, improve customer service, and drive innovation in the logistics sector.

D2C ayurveda brand Kapiva strengthens R&D; hires R Govindarajan as Chief Innovation Officer

Kapiva, a holistic wellness brand, appointed Dr R Govindarajan as its Chief Innovation Officer (CIO). He is a distinguished figure in research and development, with a portfolio of 10 patents and 75 research papers published in many esteemed peer-reviewed journals.

He has also played pivotal roles at prestigious government research institutions like CSIR and has held leadership positions in the R&D departments of prominent organisations.

With over 23 years of experience in research and development, Govindarajan aims to empower the brand to improve health outcomes with enhanced product quality and expand its range of Ayurvedic offerings, the company stated. 

(This article will be updated with the latest news throughout the day.)