ShipGlobal Raises $2.5 Million in Funding from InfoEdge Ventures to Empower Indian SMEs in Global Trade

ShipGlobal Raises $2.5 Million in Funding from InfoEdge Ventures to Empower Indian SMEs in Global Trade

ShipGlobal raises $2.5 million in funding led by InfoEdge Ventures.

The company aims to expand its product offerings and broaden its customer base.

ShipGlobal's comprehensive logistics solutions cater to the diverse needs of Indian SMEs engaged in global trade.

The funding will support ShipGlobal's expansion into new markets and enhance its technology infrastructure.

Amidst the growing demand for seamless cross-border logistics solutions, ShipGlobal, a rapidly expanding logistics startup, has secured $2.5 million in funding from InfoEdge Ventures, a leading early-stage venture capital firm in India. This strategic investment will fuel ShipGlobal's expansion plans and enable it to provide Indian SMEs with enhanced logistics services for their global trade endeavors.

ShipGlobal's success in securing this funding round stems from several factors:

1.Addressing a Critical Gap: ShipGlobal's comprehensive logistics solutions address a critical gap in the Indian market, providing seamless cross-border logistics services tailored to the needs of SMEs.

2.Proven Track Record: ShipGlobal has established a strong track record in the logistics industry, demonstrating its ability to deliver efficient and reliable services to its customers.

3.Strategic Partnership: The investment from InfoEdge Ventures, a well-established venture capital firm, will provide ShipGlobal with access to valuable expertise and resources, further strengthening its position in the market.

Empowering Indian SMEs in Global Trade

The funding from InfoEdge Ventures will play a pivotal role in empowering Indian SMEs to participate effectively in global trade:

1.Simplified Cross-Border Logistics: ShipGlobal's solutions will streamline the complex process of cross-border logistics, reducing the time, cost, and complexity associated with international trade for Indian SMEs.

2.Enhanced Market Access: ShipGlobal's global network and expertise will provide Indian SMEs with access to new markets and opportunities, expanding their reach and boosting their global presence.

3.Increased Competitiveness: ShipGlobal's efficient and cost-effective logistics solutions will enhance the competitiveness of Indian SMEs in the global marketplace.

Future Outlook

With the support of InfoEdge Ventures, ShipGlobal is poised for significant growth and expansion in the coming years. The company plans to utilize the funding to:

  • Expand its product offerings to include new services such as warehousing, insurance, and customs brokerage.
  • Broaden its customer base by targeting new segments of Indian SMEs.
  • Enhance its technology infrastructure to provide a seamless and user-friendly experience for its customers.
  • Expand its geographical reach by establishing a presence in new markets, particularly in Southeast Asia and Europe.

ShipGlobal's journey is a testament to the potential of innovation and technology to transform the logistics industry. The company's commitment to empowering Indian SMEs in global trade will have a significant impact on the Indian economy and the global trade landscape.

Additional Data and Insights

  • The global cross-border logistics market is expected to reach a value of $12.7 trillion by 2027, driven by the growth of e-commerce and international trade.
  • India's share of the global cross-border logistics market is expected to grow from 2% to 4% by 2027, fueled by the increasing participation of Indian SMEs in global trade.
  • ShipGlobal's current customer base includes over 1,000 SMEs across various industries, such as pharmaceuticals, textiles, and electronics.
  • The company plans to double its customer base and expand its revenue by 3X in the next two years.

ShipGlobal's success is a beacon of hope for Indian SMEs, demonstrating that with the right support and innovative solutions, they can compete effectively in the global marketplace. The company's growth trajectory is poised to transform the cross-border logistics landscape for Indian businesses, paving the way for a more inclusive and connected global economy.

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December 1, 2023

Kalpana Maurya