CriticaLog India Pvt. Ltd., a provider of critical logistics solutions, is set to raise INR 150 crore in Series-A funding from new investors in the coming two to three months to fund its expansion.
So far, the start-up company has raised only seed funding from Switzerland-based LoGon Investments.
CriticaLog, which has expertise in delivering critical, luxury, and high-value items for several Fortune 500 companies, is now foraying into the B2C segment. It plans to help MSME customers deliver their goods across the country.
“We are present all across the country. We will use our logistics strength to help MSMEs go online,” Sujoy Guha, Chief Executive Officer and Managing Director, CriticaLog, told the media.
Further adding, he said, “The company is setting up a separate business division to help offline businesses go online and deliver their goods across the country.”
The company has built a niche delivery model and tech-enabled systems such as Track & Trace software, GPS vehicle locator and movement monitoring, hand-held units for remote data entry and RFID, and now looks to strengthen its IT systems further.
In the last seven years, it has acquired over 700 clients, including many Fortune 500 companies. Wipro, HCL, Bosch, Louis Vuitton, and Raymond Weil are some of its clients.
As part of its expansion, the startup plans to service MSME customers to deliver their goods like art, artefacts, IT & ITeS equipment, computers, laptops, and servers, among many others. Also, it looks to hire dedicated delivery staff separately for the last mile.
“To begin with, we will be hiring at least 300 people and add thousands as we go forward to deliver goods across Tier-1 to Tier-4 cities and towns in the country, Guha said.
CriticaLog is in advanced discussion with the investment bankers to prepare the information memorandum (IM) ahead of reaching out to potential investors.
The company as part of its expansion plans also wishes to expand its reach in overseas markets. And, to accomplish the same CriticaLog has already tested the market by delivering temperature-controlled large consignments in Syria, the US, Europe, North America and Asia
“We are entering into Express cargo delivery across several countries. We will get into cross-border offline to online business,” Guha said and added that 80% of its customers are MNCs and are getting service in the country.
It plans to deliver engineering goods, high-end precision spare parts for top German and Japanese companies.