Last mile logistics enabler in Kashmir FastBeetle raises funding

Srinagar-based tech startup FastBeetle Logistics Pvt Ltd, focused on last-mile logistics, has raised a pre-Series A round at USD 3 million valuation led by Jaipur-based angel investors KM Trans Group. Alsisar Impact acted as the advisor on the transaction. The startup, co-founded in 2019 by Sheikh Samiullah and Abid Rashid Lone and incubated by Mumbai-based Alsisar Impact, aims to disrupt the conventional delivery sector in J&K and make inroads into e-commerce. Locally referred to as Beetles, FastBeetle Logistics has a network of warehouses and delivery centres across J&K, and Ladakh.