Logistics startup Smart Express raises Rs 100 crore ahead of launch

Mumbai: Smart Express, a logistics technology startup, has raised Rs 100 crore in seed funding, ahead of its launch during the upcoming festive season.

IIFL Private Equity Fund led the fundraise, which also saw the participation of Jalan Dani’s family office Smiti Holding & Trading Co., founder-promoter Yogesh Dhingra and the other cofounders of the company.

The Mumbai-based company plans to start operations in 30 cities in one go, and then set up 300 centres across India in the next three years. The funds will be used for creating pick up and delivery units and transit hubs to service customers across India, as well as for hiring.