Logistics startup Pidge and apparel manufacturer Off Duty have racked up early-stage capital, the companies said on Monday.
Delhi NCR-based logistics platform Pidge has raised pre-Series A funding of $3 million (around Rs 24.5 crore) led by Europe-based venture capital firm Mountain Partners, with participation from existing investor Indian Angel Network.
The fresh funds will be used to expand the company’s logistics SaaS solution.
Founded in 2019 by Rushil Mohan and Ratnesh Verma, Pidge offers an end-to-end solution to its customers to grow their revenue by ensuring zero unfulfilled demand, reducing costs through latency optimised algorithms and improve customer experience through automated tracking, alerts, and notifications.
“Pidge SaaS will provide end-to-end solutions for businesses with their fleet while Pidge Network will enable last mile fulfillment for all other businesses,” said Mohan.
Apparel brand Off Duty has secured $489,804 (around Rs 4 crore) from revenue-based financier Velocity.
The Mumbai-based company will deploy the fresh proceeds for expanding its inventory and marketing.
Founded in 2019 by Madina S Khan and Shahbaaz Khan, Off Duty is a D2C apparel brand whose core products are denims, pants and trousers targeted towards teens and early adults.
Meanwhile, revenue-based financier Velocity, operated by White Wizard Technologies Pvt Ltd, was founded in 2020 by Abhiroop Medhekar, Khichariya, and Saurav Swaroop.
In January, the Bengaluru-based fintech invested Rs 1.62 crore in the D2C fashion brand D’chica.
