Mumbai-based warehouse leasing and ecommerce fulfillment solution startup Godamwale has raised $1 million in a Seed funding round led by Captain Anand Aryamane, a Founding Member of Tuscan Ventures.
Tuscan Ventures is a Mumbai-based venture capital firm that mainly invests in early-stage startups operating under Finance, Logistics & Supply Chain, and Food & Agriculture sectors. The firm has invested in LoanTap, ColdStar Logistics, LCL Logistics, Paragon Partners, among others.
Godamwale will use the raised capital for brand marketing, expanding its fulfillment network, and develop its technology platform, the statement said.
Founded in 2016 by Basant Kumar, Vivek Tiwari, and Ranbir Nandan, Godamwale operates a technology-enabled platform that provides Warehouse leasing, Cold Chain, 3PL, and ecommerce fulfillment solutions to businesses.
The startup currently has over 25 million square feet of space listed on its platform and has served more than 110 clients in both business-to-business (B2B) and business-to-consumer (B2C), direct-to-consumer (D2C) sectors, from small shippers to large businesses.
It claims to have top companies like Amazon, BigBasket, Samsung, Future Group, Godrej, USHA, among others, as prominent customers.
“During our research and from experience in the warehouse discovery model, we found that there is a huge need in the market for a tech-based, AI-driven, on-demand warehousing, and fulfillment solution, said Ranbir Nandan, Co-Founder & CEO, Godamwale.
He further said that their platform with smart inventory placements which are strategically located near customers helps in faster delivery and lower logistics cost.
"We are happy to have Captain Anand on board and we will benefit greatly from his vast experience and knowledge in the logistics and investment sector. Flexible Warehousing offers great potential in our country with retail and e-commerce on the cusp of heightened growth. The response that we have received from our customers is also testimony to this opportunity,” said Vivek Tiwari, Co-Founder & COO of Godamwale.
"We see great potential in our tech platform - Inciflo which is currently the most advanced mobile tech platform that has a short learning curve. This technology empowers employees from the floor level to top management and hosts them on a single and truly integrated supply chain platform. This scalable, AI-backed supply chain platform is a catalyst to the unification of the large marketplace that we have created," he adds.
According to the company's statement, The warehousing market in India is expected to grow to $30 billion by 2025, with over 600 million square feet of warehousing space - split between grade A and grade B categories.