Fastbeetle, a logistics-based company, raised an undisclosed amount from angel investors including Kartik Desai of Asha Impact and Anuj Sharma of Alsisar Impact. The start-up will use the funding to expand business operations and strengthen the team to all districts, including the Ladakh, the adjacent union territory.
The company provides inter-state and intra-state full-stack logistics services across 40 pin codes in Jammu and Kashmir. Presently, it caters to 500 SMEs and 1,000 micro-entrepreneurs, 60% of which are enterprises run by women. The company has grown steadily since last year after its selection under “ALSiSAR Impact”, an incubation program held in Srinagar.
They have been crucial in keeping business lines open especially in the lockdown and are a part of essential services of over 30,000 Kashmiris in 8 districts of the state. In a recent press release, Fastbeetle has announced a strategic tie-up with Flipkart and Amazon to enable last-mile reach and delivery in 10 pin codes of Kashmir.