Grab, a logistic platform, has raised USD 1.5 million from SIDBI.
"We are excited to be backed by a government investment body. This fundraise is adequate for utilisation towards scaling up our smart locker platform and crowdsourced distribution centre model," said Pratish Sanghvi, co-founder, Grab.
“At SIDBI, we were eyeing the technology led logistics startups for a while. What really stood out at Grab is their sector agnostic approach and the best in the industry unit economics coupled with operations at scale. Grab is perhaps the first company which is making money and is a few months away from being EBITDA positive," said a representative from SIDBI.
Grab's investors include Aramex , Zomato, Sixth Sense Ventures & Oliphans Capital. Grab competes with Eight Road Ventures backed ShadowFax.
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