A Pune based, plug and play tech fulfillment startup empowering D2C and omnichannel brands, Quickshift has raised $770k in seed funding from Anicut Angel Fund and Axilor Ventures. The company will step-up its proprietary technology and expand its network of fulfilment centres across the length and breadth of the country with the new lease of funds.
Traditionally in India, logistics has always been viewed as a cost centre for businesses along with the lack of standardised solutions across the supply-chain. Quickshift is a technology fulfilment company providing a wide array of offerings through a “single click” with a faster turnaround time. QuickShift also acts as an accelerator for brands in the D2C, e-commerce, B2B & retail space, enhancing their scale and penetration across 26,000 pin codes across India.
Backed by its own network of decentralized warehouses across strategic locations in India, its end-to-end supply chain solutions are built around its data-driven technology and seamless plug and play integrations. The experience leads to cost efficiencies, industry fast turn around time and operational ease. Through this product, QuickShift aims to eliminate the pain points of aspiring brands and accelerate their growth, visibility, and scale. The company leverages its pan-India network to place their inventory, manage it across all their sales channels, track real time inventory changes and utilise the data analytics provided to reduce inventory ageing and effectively plan their marketing spends.The overall experience leads to cost efficiency, industry-best turn around time and operational ease.
Speaking on the investment Anshul Goenka, Founder of QuickShift, said, “ It has been our mission to streamline the vast scale of day-to-day operational activities for brands to make a product reach the customer on a real-time basis, keeping this vision in line, we built QuickShift for speed. We have endeavoured to change the way brands look at this, by giving them the comfort of focusing exclusively on their core product while we ensure that it reaches their customer in no time.With the new funding coming in we will set-up modernized fulfilment centres and become a one-stop solution for SMBs. ”
He further added, “Today the entire customer journey is undergoing massive disruption with the uptick of digitised channels. Quick and hassle free delivery has become an essential point for ensuring customer delight and loyalty. We are currently offering next-day and two-day delivery models to brands and would soon be opening up 2-hour delivery options for mission critical deliveries.”
“Today, India houses over 800 D2C brands which have garnered immense interest from the VC community. While the pandemic brought unprecedented changes, these brands seized the day to grow multi-fold, and with that came the need for enablers in the ecosystem. We believe that the idea that has been put into motion at QuickShift, is perfectly poised to capitalize on this opportunity that is expected to be worth over $100 bn in the next 3-4 years, ” said Ashvin Chadha, Co-founder, Anicut Angel Fund.
Nandan Venkatachalam, Principal at Axilor Ventures added, “The new wave of D2C brands has increased consumer choices, with rising demand from all corners of the country. While existing marketplaces have allowed brands to build toplines, they have often struggled with demand fulfilment. They fall short on consistent consumer experience, managing inventory, and scaling geographical distribution. Quickshift’s vision is to solve this. Their fulfilment platform enables brands to build distribution, own consumer experience, outsource fulfilment and focus on growth. At Axilor, we continue to back disruptors and are delighted to partner with Quickshift, which is well on its way to market leadership.”
Mumbai-based Pareto Capital acted as the sole transaction advisor for the deal.
QuickShift is a full-stack and omnichannel technology fulfilment company providing a wide array of offerings through a single click. Its product has digitized and streamlined the supply chain experience for brands to fast-track their lifecycle growth and scale. Today, it has close to 100 brands under its umbrella, fulfilment centres in Mumbai, Bangalore, Delhi, Pune & Kolkata, multiple marketplace and courier integrations, and solutions from the first to last-mile fulfilment.
About Anicut Angel Fund
Launched in late 2019, Anicut Angel Fund provides early-stage capital to start-ups. Anicut Angel fund is a sector agnostic equity fund and targets early-stage Companies. Anicut team has more than a decade of experience in early-stage companies and has invested / managed more than 120 investments and has offices in Delhi and Chennai. Anicut Capital is the sponsor of Anicut Angel Fund and in addition to Angel Fund manages two Funds in the SME debt space with an AUM of $150 Mn.
Categories: Venture Capital