Private Equity

VC Fund Investments

Logistic-tech startup Smart Express raises Rs.100-Cr from IIFL PE Fund, others

Economic Times  

Smart Express, a logistics technology startup, has raised INR 100 crore in seed funding, ahead of its launch. IIFL Private Equity Fund led the fundraise, which also saw the participation of Jalan Dani's family office Smiti Holding & Trading Co, founder-promoter Yogesh Dhingra and the other cofounders of the company. The Mumbai-based company plans to start operations in 30 cities, and then set up 300 centres across India in the next three years. The funds will be used for creating pick up and delivery units and transit hubs to service customers, as well as for hiring. Smart Express aims to service segments including business-to-business (B2B), business-to-consumer (B2C), direct-to-consumer (D2C), customer-to-customer (C2C) and hyperlocal delivery.