The new funding will help the company grow and expand its global engineering teams, HyperTrack said in a Wednesday (Aug. 17) press release.
“Logistics represents 12% of global GDP, yet the technology that enables it is stuck in the past,” Sumir Chadha, managing partner of WestBridge Capital, which was one of the companies that led the funding round, said in the release. “We are seeing a strong movement in the market to upgrade logistics tech solutions through in-house builds and HyperTrack is the API of choice for these developers.”
HyperTrack’s new tool called BuilderX includes software development kits (SDKs) and APIs to help logistics tech builders add the ability to plan, assign and track orders for last-mile logistics, according to the release.
“Gig workers and the growing need for same-day delivery in the ‘here and now’ economy requires rethinking of the logistics stack,” HyperTrack Founder and CEO Kashyap Deorah said in the release. “Our solution is transforming massive industries as disruptors continue to use our API Platform to build logistics apps for the future.”
The gig economy is helping shape the transformation of the last mile, getting goods on demand to consumers’ doorsteps… with the help of a flexible workforce.
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Read more: Gig Economy Helps Transform Last Mile for Commerce Giants
For example, Walmart said during its most recent earnings call that Walmart GoLocal, its white-label, last-mile delivery offering, has reached a milestone of 1 million deliveries.
In addition, as recently as three months ago, Amazon was testing a new program that will leverage its Flex driver network to bring deliveries to consumers’ doorsteps from malls in select locations.
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