Smart Express Private Ltd., a logistics start-up, has announced to start operations with seed capital of ₹100 crore raised from IIFL India Private Equity Fund and Smiti Holding & Trading Company (Jalaj Dani family office). Promoter and founder Yogesh Dhingra, formerly with Blue Dart Express and other co-founders have also participated in this round, the firm said. The funds will be deployed for team building and creating pick-up and delivery (PUD) and transit hub infrastructure to service customers across India. The firm plans to commence its operations during the festive season this year from around 30 cities. In the next 3 years, it plans to build over 300 centres across India, which will include its own PUD service centres, transit hubs, and alliance partners.

Source: The Hindu August 17, 2021 16:41 UTC