Shipmates, a Philippines-based shipping platform backed by Y Combinator and Iterative, announced that it raised $2.2 million (₱121 million) in seed funding.
The seed round was participated by Cathexis Ventures, Wavemaker Partners, Taurus Ventures, Capital X, Sketchnote Partners, and other prominent investors.
Shipmates previously received $500,000 (P25 million) in seed funding from the United States-based startup incubator Y Combinator.
The company plans to scale its platform to be the preferred shipping tool for all the merchants in the Philippines and improve the country’s shipping infrastructure by helping both online businesses and shipping companies.
“When talking to online sellers, their biggest pain point has always been how manual shipping still is in our country. We built Shipmates to automate this, we built Shipmates for them and we are very glad to be joined by our amazing investors in making this vision a reality. "-Josh Supan, CEO of Shipmate said.
“Instead of shippers booking couriers manually on their phones or physically dropping off packages, their orders feed straight into Shipmates, and they can pick a courier for shipping from there,” he added.
Round: Seed Round
Funding Month: September 2022
Lead Investors: Y Combinator
Additional Investors: Cathexis Ventures, Wavemaker Partners, Taurus Ventures, Capital X, Sketchnote Partners
Company Website: https://shipmates.app/
Software Category: Shipping Platform
About the Company: Founded by CEO Josh Supan and CTO David Marquez, they started Shipmates back in July 2021 and launched their beta later that year. Shipmates is a shipping platform that enables online business owners to book on-demand and standard orders using multiple couriers in the Philippines. An innovative solution to the hassles of manual booking and shipping, Shipmates helps e-commerce businesses grow by making their shipping process easier and faster. The platform allows online business owners to book standard or multiple orders, as well as compare rates between different couriers. The startup helps e-commerce businesses grow by making their shipping process easier and faster.
Source: Junelyn Olivar-Senior PR Associate