In FY23, logistics and supply chain company NimbusPost recorded a revenue of Rs 115.8 crore, over double the revenue it witnessed the previous year. Its expenses totaled to Rs 119.8 crore and losses came in at Rs 4 crore the same financial year. While expenses increased as compared to FY22’s Rs 62.8 crore, losses saw a significant decreased compared to the previous Rs 7.8 crore.
The Gurgaon-based company saw about Rs 114 crore of the total revenue coming in from operations. While it spent over Rs 18 crore on employee benefits, it saw an expense of Rs 5.2 crore on legal and professional costs.
Founded by Rajeev Pratap and Yash Jain in 2019, NimbusPost is a tech-enabled, multi-channel shipping platform that helps e- commerce merchants automate and simplify their logistics operations. Its key services include domestic and global shipping, and warehouse and fulfilment services. The company has a network of over 29,000 pin codes within India and delivers across more than 196 countries.
Its first and only funding round was raised in February 2021. The round accumulated a total of Rs 11.16 crore and saw XpressBees as its lead investor.
It competes with the likes of Xpressbees, Ecom Express, Letstransport, and Shadowfax.