Shyplite secures a $1 million investment from N+1 Capital through Revenue Based Financing, enabling sustainable growth while maintaining equity ownership.

Information on the Target

Shyplite is an innovative AI-powered logistics platform designed to automate logistics processes and enhance shipping efficiency for businesses. Founded by Nisschal Jain (Co-founder), Sugam Jain (CEO & Co-founder), and Parinay Itkan (Co-founder & COO), Shyplite was established in 2015-16 with the intention of addressing logistics bottlenecks that e-commerce ventures faced. The founding team initially bootstrapped the startup, which began as a service-centric logistics platform aimed at solving the logistical challenges their e-commerce businesses encountered.

As the startup developed, it garnered early traction, attracting approximately 100 active users within the first 90 days, despite minimal marketing efforts. This organic growth was facilitated by word-of-mouth endorsements from family and friends within the same industry. Subsequently, Shyplite gained more visibility through online platforms, with discussions and blogs highlighting the advantages of a multicarrier logistics solution.

Industry Overview in India

The logistics sector in India has witnessed significant transformation, particularly with the introduction of the Goods and Services Tax (GST). Prior to GST, logistics firms grappled with inefficiencies, particularly concerning state sales t