Private Equity Fund Investments
Third-party logistics co Sitics acquires majority stake in Quifers
Palakkad-based third-party logistics (3PL) company Sitics Logistic has acquired a majority stake in Mumbai-based tech-enabled logistics startup Quifers to tap opportunities amid the supply chain boom and enhance combined revenue by up to 20%. This acquisition would help Sitics transit from a solution-based service provider to a technology-based service provider. Sitics plans to take the Quifers platform to Singapore, Malaysia, the UAE, Thailand, Australia, and the EU with its global presence.
From the Venture Intelligence Angel Investments Database: In October-2015, Quifers had raised INR 2 Cr led by Indian Angel Network (IAN) and consumer internet and media platform Smile Group.
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