Shipsi announces new round of investment

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Shipping firm Shipsi has revealed it has received significant investment to develop its same day delivery services.

The firm has announced that it has closed a $1.9 million seed round of fundraising involving Initial Capital and Halogen Ventures. Additional investors include Precursor Ventures and Stage Venture Partners. As one of the investors says:

Consumers want things now, and it shows in the stats. 88% of people are willing to pay more for same-day delivery, and over 25% of shopping cart abandonment is because shipping is ‘too slow.’ That’s why we believe Shipsi’s new technology will dramatically transform the future of retail.
– Mayra Tama, Principal, Initial Capital

Founded in 2017, Shipsi’s says their technology gives retailers the power to offer same-day shipping by plugging into last-mile networks to deliver goods. It is already integrated with ecommerce platforms such as Shopify and Demandware.

The company says part of its aim is to help smaller retailers compete more effectively with the Amazon Prime service as customer expectations on shipping continue to increase:

Competing with Amazon Prime’s delivery is a constant challenge for brands. It’s no surprise consumers want everything now. Retailers of any size can either take action, meet today’s consumer demands and thrive or wither away and die in today’s turbulent retail market.
– Chelsie Lee, cofounder and CEO, Shipsi


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