According to the startup, the raised funds would be utilized towards scaling the PiE KART platform, advancing technology, and expanding the team.
What does OORJAA do?
OORJAA focuses on utilizing cutting-edge technology to drive efficiency, visibility, and sustainability in last-mile and mid-mile deliveries. Recently, The startup launched an app-based product, PiE KART, which 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), the release notes.
Sandeep Patil, CEO and co-founder of OORJAA, said, "With this Round 2 funding and the recent launch of PiE KART, we are entering the next phase of our expansion. Our commitment is to revolutionize last-mile and mid-mile logistics through advanced technology. Our investors, led by IPV, have been instrumental in our journey towards greater heights."
OORJAA's aim to transform the logistics field
OORJAA claims that it operates in more than 40 cities across India, managing a monthly delivery volume of 22 million tonnes.
The startup utilizes unique technology tools and its innovative shared cargo delivery platform, PiE KART, to enhance operations and bring innovation and efficiency to its services.
The Indian intra-city logistics market, valued at USD 4 billion, is expected to grow at a compound annual growth rate (CAGR) of 12% each year, showcasing significant potential and opportunities in the logistics sector.
OORJAA said it aims to transform the logistics field, backed by seasoned industry professionals and strategic advisors and is dedicated to supporting businesses in the swiftly changing market.
Mitesh Shah, Co-Founder of Inflection Point Ventures, said, "The logistics industry plays a pivotal role in virtually every business. However, it remains largely unorganized due to its multifaceted and uncontrolled factors. OORJAA has embarked on a transformative journey to address these challenges, providing end-to-end automation solutions for diverse delivery requirements."
What does Inflection Point Ventures do?
Inflection Point Ventures (IPV) is a Gurugram-based angel investing platform with over 8600 CXOs, HNIs, and Professionals to together invest in startups.
The firm supports new-age entrepreneurs by providing them with monetary and experiential capital and connecting them with a diverse group of investors. Recently, It announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage startups.