E-Commerce Startup Logistiex Secures USD 250,000 In Bridge Funding Round

2024-06-01 02:17:14

(MENAFN- KNN India) New Delhi, June 1 (KNN)
Logistiex, an e-commerce solutions startup founded in 2023, has raised USD 250,000 in a bridge funding round led by PACE Family Office, bolstered by contributions from angel investors including Siddhant Khemka.

The fresh capital injection will be utilised to bolster product development efforts and expand the company's tech team, according to Sarvartha Kanchan, Founder and Chief Executive Officer of Logistiex.

"Leveraging the founding team's extensive background in technology and e-commerce domains, our approach promises innovative solutions such as unified seller and fulfilment platforms aimed at streamlining e-commerce backend operations in India," Kanchan stated.

Co-founded by Kanchan and Vineet Agarwal, Logistiex offers a comprehensive, unified solution tailored for the Indian e-commerce landscape.

Designed as a first-of-its-kind platform, it enables sellers to manage their entire e-commerce presence through a single sign-on interface.

Despite currently operating in beta stage, the platform is already live and generating revenue, indicating a strong product-market fit, the company claims.

"Logistiex's solutions provide brands with an opportunity to establish and scale their businesses rapidly and cost-effectively," remarked Sarvam Goel of lead investor PACE.

ALPS Financial Consultants, founded by former banker Sumit Goel, advised on the transaction.

(KNN Bureau)

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