Cross-border logistics startup ShipGlobal is poised to raise pre-Series A funding from its current investor InfoEdge Ventures. This investment arrives nearly two years after the company’s initial seed round. The board of ShipGlobal has authorised the issuance of 2,143 pre-Series A preference shares, priced at Rs 70,000 each, with the aim of raising Rs 15 crore, as indicated in its regulatory filing with the Registrar of Companies (RoC). ShipGlobal plans to allocate these funds towards capital expenditure, marketing initiatives, and general corporate needs, as per the documentation.
According to estimates by Startup Superb, the company’s post-money valuation is expected to be approximately Rs 315 crore (equivalent to $36 million), marking a threefold increase from its seed round valuation of $3.5 million. Following this new round of funding, Info Edge Ventures will own 23.81% of the company, while co-founders Aayush Anand, Angad Arora, and Vaibhav Kapur will each hold 21.89%, as revealed in the filings. This funding round may also attract new investors, which could influence the valuation and share distribution.
Founded in 2022, ShipGlobal delivers affordable logistics solutions tailored for Indian SMEs, simplifying the complexities of cross-border shipping. The services offered include customs clearance, tracking, and real-time pricing. The company claims to have over 25,000 exporters in its network and has successfully shipped more than 1 crore orders across 220 countries. Based in New Delhi, ShipGlobal has yet to file its annual statements for FY25. In the fiscal year ending March 2024, the company achieved a remarkable fivefold increase in revenue, amounting to Rs 40.6 crore, while losses were modest at 1.37 crore during the same period.