Shyplite raises $1 million in revenue-based growth capital from N+1 Capital

Shyplite, an AI-powered logistics platform that enables businesses to automate their logistics and increase shipping efficiency by providing a single-window platform integrated with multiple carriers, has raised $ 1 Mn in revenue-based growth capital from N+1 capital. The company was bootstrapped with investments in the year 2015 from its founding members Nisschal Jain- Co-founder and Managing Partner, Sugam Jain- Co-founder and CEO and Parinay Itkan – Co-founder and COO & launched exactly five years ago on 9th June 2016. Shyplite will utilise the funds to support its expansion plans to enter the new segments like Fulfilment Centres and Hyperlocal deliveries to become an end-to-end logistics player and add more experts on board.
As part of the expansion, Shyplite has committed nine fulfilment centres across India in cities including Delhi, Mumbai, and Bengaluru. It is also bringing last-mile logistics players like Dunzo, Wefast and Shadowfax and others on its platform to help businesses with last-mile and same-day delivery service.