Logistic firm CriticaLog seeks to bag USD 20 million to expand business

CriticaLog India Pvt. Ltd., a technology-powered premium logistics company, is reportedly planning to raise approximately INR 150 crores ($20 million) from new investors in Series-A funding for supporting business expansion.

CriticaLog offers critical solutions across areas like life, e-com, automobiles, engineering, digital goods, luxury, and energy while providing shipping services, special handling services.

Having expertise in delivering luxury, critical and high-value items for some Fortune 500 companies, CriticaLog is now planning to enter into the B2C segment. It aims to aid MSME customers in delivering their products all over India.

Sujoy Guha, Chief Executive Officer and Managing Director, CriticaLog, said they have set their footprint in India and seek to leverage their logistics forte to help medium and small enterprises go online.

The firm is creating a separate business division that can entirely help offline businesses to enter the online world and deliver their products across the country.

CriticaLog is in discussions with multiple investors to raise approximately Rs 150 crore ($20 Million) for funding its expansion plans. It intends to finalize the deal in the coming two-three months, said Mr. Guha.

The firm has manufactured a function delivery model and tech-enabled systems like GPS vehicle locator, movement monitoring, Trace & Track software, RFID and hand-held units for remotely entering the data. It is now planning to reinforce its IT systems further.

As per sources, in the previous seven years, the firm has acquired approximately 700 clients, including many companies from the Fortune 500. Some of its clients include Wipro, Louis Vuitton, HCL, Bosch, and Raymond Weil.

Apart from this, during the pandemic, CriticaLog delivered raw materials to pharmaceutical companies and Covid-19 vaccines across the country and even to Syria, where no other logistics company sends its goods.

Furthermore, the firm is also seeking to expand its footprint in the international market. It has already experienced the market by sending temperature-controlled large shipments in the US, Europe, Syria, North America and Asia.

Source Credit - https://www.deccanherald.com/business/business-news/logistics-startup-criticalog-set-to-raise-rs-150-crore-to-fuel-expansion-1032190.html

By Shreya Bhute

With corporate exposure in software and marketing, Shreya was always intrigued by content development. Having pursued her graduation in I.T. engineering, she works as a content writer for people.partilepep.com and jots down news articles across distinct domains including technology, business and healthcare.