Mailit, a technology-driven mailroom management startup, announced plans to raise $10 million in a Series A funding round. Mailit Mailroom Management Solutions Pvt. Ltd, which Ratan Tata backs, previously raised undisclosed debt funding as a bridge round before raising its Series A.
PSI, a global network of venture capital and private equity investors, provided its services to finalize the funding. Mailit provides courier, cargo, 3PL (third-party logistics), mail room management digital solutions, and postal services.
The investor network known as PSI VC includes more than 1,500 investors from 400 VC, PE, and family offices across 21 nations. It primarily focuses on fundraising, corporate sales, and strategic alliances. The network works independently of the industry and regularly aids startups in raising up to $100 million.
Mailit wants to create India’s first digitally integrated logistics and mailroom solutions
Adani Group, SBI, Asian Paints, L&T, Raymond, IndusInd Bank, Ultratech Cement, Emerson, Sandvik Asia, and Larsen & Toubro are just a few businesses that the mailroom management startup has partnered with. The 73 Group Companies of the Tata Group are also among its clientele.
“Last year, when we raised funding from Ratan Tata, he backed us as he believed that the Mailit platform would bring in cost optimization, build efficiencies in the supply chain, and create employment opportunities across India,” said Mailit founder Mahesh Shirodkar.
The logistics startup aims to provide India’s first platform for digitally integrated mailrooms and logistics solutions, boosting market visibility and consolidating markets. Shirodkar’s career began 20 years ago when he worked as a mailroom delivery boy for Tata Motors.
In 1987, Mailit was established as Shirodkar Cargo Services, a dispatch aggregator. Over time, Mailit evolved into an integrated logistics and mailroom management business that built its distribution network on the IL&MS platform.
The startup offers Express courier and cargo services, Warehousing and Transportation, Mailroom Management Solutions and Postal services to leading corporates and several blue-chip companies in the TATA Group.
“Mailit has transformed from a regular courier business into a tech-driven logistics and mobility startup. While B2C has always had real-time cargo tracking, Mailit has launched this for Indian B2B clients,” stated Samir Dahotre, the founder and CEO of PSI.