HyperTrack bags $25 million funding led by WestBridge Capital

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Logistics Tech platform HyperTrack has raised $25 million in its series A funding round led by WestBridge Capital and existing investor Nexus Venture Partners.

The firm is planning to utilise the funds towards building its product and expanding its global engineering teams as it further pursues technology leadership to enable the $11 trillion logistics market, it said in a statement on Wednesday.

HyperTrack also announced the release of BuilderX, a last-mile logistics technology for on-demand use cases.

Founded in 2015 by Kashyap Deorah, former president at Futurebazaar.com along with Tapan Pandita and Abhishek Poddar. HyperTrack is an Application Programming Interface (API) platform for logistics tech builders developing solutions for last mile fulfillment integrating mobile, maps, and cloud.

Headquartered in San Francisco, California HyperTrack has expanded its leadership ranks with technology veterans like Pradeep Sharma who led engineering teams at Byju’s, and Lendingkart has joined as the VP of engineering. Silicon Valley tech veteran Gaurav Deshpande has joined as the company’s VP of marketing.

“Gig workers and the growing need for same-day delivery in the here and now economy requires re-thinking of the logistics stack,” said Deorah in the statement.

The Series A funding round closes as the company has seen a significant expansion of its customer base to Europe, Latin America, the Middle East, and Southeast Asia, the statement said.

The firm’s Customers include Jobox.AI which connects nearby, eligible and available technicians with customers, and Spiritzone, which uses HyperTrack to provide live tracking of liquor delivery orders in India. Additionally, German-based marketplace MagaLoop delivers streamlined order fulfillment for independent retailers across Europe.

“Our solution is transforming massive industries as disruptors continue to use our API Platform to build logistics apps for the future. This funding will help fuel our mission in changing the way all industries deliver products and services,” Deorah added.

With the new funding, HyperTrack’s total raised capital is around $32 million.

“Logistics represents 12% of global GDP, yet the technology that enables it is stuck in the past,” said Sumir Chadha, managing partner of WestBridge Capital. “We are seeing a strong movement in the market to upgrade logistics tech solutions through in-house builds and HyperTrack is the API of choice for these developers. The last mile logistics market deserves its own cloud,” Chadha added.