FastBeetle, a digital logistics platform based in Jammu and Kashmir, has successfully raised an undisclosed fund amounting to USD 3 million, valuing the company at USD 3 million. The funding was led by Jaipur-based angel investors KM Trans Group and advised by Mumbai-based incubator, Alsisar Impact.
FastBeetle was founded in 2019 by Samiullah and Abid Rashid Lone with a mission to create a strong and efficient logistics network within Jammu and Kashmir. The startup has since established an extensive network of warehouses and delivery centers across major districts and recently expanded to Ladakh. Thus, it can offer comprehensive services to over 19,000 pin codes domestically and internationally.
The company stands out by partnering with over 1,500 micro-entrepreneurs, small and medium-sized enterprises (SMEs), and women-led businesses. This initiative fosters entrepreneurship and drives economic growth in underserved areas while disrupting the logistics industry.
FastBeetle is an efficient logistics platform globally, where it handles over 3 lakh shipments per month. Additionally, it offers enterprise users a streamlined order management platform powered by proprietary algorithms that reduces delivery time and enhances first-time delivery success rates, minimizing the need for multiple attempts and returns.
The investment secured in the Pre-Series A round will enable FastBeetle to invest in advanced technology solutions such as artificial intelligence, machine learning, and data analytics. These investments will improve various aspects of the company’s operations and support FastBeetle’s geographical expansion, strengthen its supply chain partnerships, and enhance solutions for direct-to-consumer brands.
FastBeetle is committed to delivering an exceptional experience to customers and enabling seamless logistics for D2C brands. By focusing on profitability as a core metric, FastBeetle has established itself as a robust and sustainable venture and set the foundation for long-term success.
The success story of FastBeetle serves as a testament to the innovation and resilience of startups and the significant potential for social and economic impact. FastBeetle is set to revolutionize the logistics landscape in Jammu and Kashmir and beyond.
