 "100 PE stocks: Should you worry?")
Bangalore-based delivery service aggregator Hipship has raised an undisclosed amount of funding from Inara Capital and a consortium led by Scootsy founder Rishi Khiani.
The company that is incubated out of excubator fulfills last mile pickup and drop of packages which is often not fulfilled by traditional delivery services. Hipship has partnered with leading logistics companies to enable deliveries, giving users the option to choose their vendor of choice.
Hipship plans to utilise the capital to strengthen its technology backbone and expand its operations to other cities across India.
Also Read
"I see a huge potential for delivery services in India. Nobody has the time or patience these days to deal with delays or damages to their parcels/documents," said Rishi Khiani, the Founder and CEO of Scootsy, in a statement.
Given the outdated transport policies and lack of infrastructural automation in India, Hipship chose to address the problem of last mile pickup and drop of packages rather than disrupt the overall logistics space.
