May 18

Fastbeetle Raises Seed Funding Round From Angels and Impact Investors

A Srinagar-based logistics company, Fastbeetle has closed a seed funding round at an undisclosed valuation from angel investors including Anuj Sharma of Alsisar Impact and Kartik Desai of Asha Impact.

“The company has provided inbound and outbound full-stack logistics services across 40 pin codes in JK for over 1,000 micro-entrepreneurs and 500 SMEs, of which 60% are run by women, helping drive entrepreneurship in the region and providing critical services in areas not serviced by larger companies,” said Alsisar Impact, a transaction advisory company, in a press release.

It further said that during the lockdown, Fastbeetle has been widely credited with helping keep crucial business lifelines open and has seen rapid growth over the last year through the pandemic, becoming akin to an essential service for more than 30,000 Kashmiri customers.

Photo courtesy of Lucus2006.

Source: The Kashmir Walla (link opens in a new window)

business development, women entrepreneurs