Logistics startup Smart Express raises Rs 100 crore ahead of launch

Mumbai: Smart Express, a logistics technology startup, has raised Rs 100 crore in seed funding, ahead of its launch during the upcoming festive season.

IIFL Private Equity Fund led the fundraise, which also saw the participation of Jalan Dani’s family office Smiti Holding & Trading Co., founder-promoter Yogesh Dhingra and the other cofounders of the company.

The Mumbai-based company plans to start operations in 30 cities in one go, and then set up 300 centres across India in the next three years. The funds will be used for creating pick up and delivery units and transit hubs to service customers across India, as well as for hiring.


Capital will also be earmarked for developing the tech-enabled platform to support ops.

"We are committed to building a platform that provides high service quality and better products for our customers at competitive price points through a transparent process," said Dhingra, a veteran of the logistics industry with more than 27 years of experience.

Before setting up Smart Express, Dhingra had led several initiatives to build a robust automated infrastructure at Blue Dart, where he has served as chief financial officer, chief operating officer and chief strategy officer. He played a major role in the acquisition of Blue Dart by DHL, according to a statement.

Smart Express said it will build business across segments including business-to-business, business-to-consumer (B2C), direct-to-consumer (D2C), customer-to-customer (C2C) and hyperlocal delivery over a period of time. In the air cargo category, the company will provide AM/PM deliveries based on customer requirements. It will also offer packages with 48/72/96 hours deliveries for cost-effective solutions.