CriticaLog Investment News: Securing Rs 150 Crore for Expansion
CriticaLog India Pvt. Ltd., a provider of critical logistics solutions, is the subject of recent CriticaLog investment news, as the company is set to raise around Rs 150 crore in Series-A funding from new investors to fund its expansion.
The seven-year-old start-up company has so far raised only seed funding from Switzerland-based LoGon Investments.
CriticaLog provides critical solutions across life, digital goods, engineering, e-com, luxury, automobiles, and energy while providing shipping services, special handling services. With expertise in delivering critical, luxury, and high-value items for several Fortune 500 companies, CriticaLog 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 DH.
The company is setting up a separate business division to help offline businesses go online and deliver their goods across the country, he said.
“We are in talks with investors to raise around Rs 150 crore to fund our expansion plans. We wish to close the deal in the next two to three months,” Guha said.
CriticaLog 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. This robust foundation has been key to their success.
Now, CriticaLog investment news highlights the company’s commitment to further strengthening its IT systems. The recent Series A funding round will enable CriticaLog to invest heavily in cutting-edge technologies. This includes not only enhancing existing systems like their Track & Trace capabilities and expanding their GPS tracking network but also exploring new innovations in areas like AI-powered route optimization and real-time data analytics.
These improvements will allow CriticaLog to offer even more efficient, transparent, and reliable critical logistics solutions, further solidifying their position in the market. CriticaLog investment news indicates that this technological advancement is a core component of their expansion strategy, allowing them to scale their operations effectively and meet the growing demands of their diverse client base, from Fortune 500 companies to burgeoning MSMEs.
This focus on technology is a key differentiator for CriticaLog, and the recent investment news signals their dedication to staying at the forefront of the critical logistics industry.
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. Recently, CriticaLog also delivered raw materials for pharmaceutical companies and Covid-19 vaccines across the country and even to worn-torn Syria, where no other logistics provider dared to go.
As part of its expansion, CriticaLog plans to service MSME customers to deliver their goods like art, artefacts, IT & ITeS equipment, computers, laptops, and servers, among many others. It plans 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.
The company is in advanced discussion with the investment bankers to prepare the information memorandum (IM) ahead of reaching out to potential investors.
CriticaLog is also planning to expand its reach in overseas markets. It 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.
With Rs 70 crore in fiscal 2021, CriticaLog aims to double its revenues to Rs 150 crore by March 2022. Over the next five years, it plans to achieve an annual growth rate of 40%.
CriticaLog’s ambitious growth plans, fueled by the recent CriticaLog investment news, signal a significant shift in the critical logistics landscape. With a focus on expanding express cargo delivery across international borders and bridging the gap between offline and online businesses, CriticaLog is poised to become a global leader. Their commitment to serving both multinational corporations and MSMEs, coupled with their investment in cutting-edge technology, positions them for continued success.
The company’s goal to double revenues by March 2022 and maintain a 40% annual growth rate over the next five years demonstrates their confidence in the market and their strategic vision. As CriticaLog investment news continues to unfold, the industry will undoubtedly be watching closely to see how this dynamic company reshapes the future of critical logistics.