Upaya City Cargo: A Nepali Logistic Tech Startup Receive 180 Million Investment
20th June 2021, Kathmandu
Upaya City Cargo, A Nepali Logistic Tech Startup Receive receive Rupees 180 Million Investment
Upaya City Cargo is an online marketplace. It is a marketplace for intra-city logistics that connects individuals and businesses with pickup driver-partners.
It integrates technology to ensure quick and hassle-free delivery of bulk goods within Kathmandu Valley.
Dolma provides capital and expertise to growth companies in Nepal. The fund is designed to generate sustainable private sector employment and stimulate further Foreign Direct Investment into Nepal.
Dolma invests as a strategic partner, sharing risk with entrepreneurs and promoters. As an impact fund, Dolma builds positive social and environmental impact into the core of investee company strategies.
Dolma Impact Fund II signed a Memorandum of Understanding (MoU) with Upaya City Cargo, an online marketplace for intra-city logistics.
According to a statement issued by Dolma Impact Fund, the first international private equity and impact fund dedicated to Nepal, they will invest Rs. 180 million in the two-year-old logistics tech startup.
The two parties signed the MoU on June 16, Wednesday.
The company is in touch with Dolma regarding the investment for the last 3-4 months.
The Dolma Fund Management manages two private equity funds for Nepal: Dolma Impact Fund I and Dolma Impact Fund II.
Dolma Impact Fund II started around a month ago after the success of Dolma Impact Fund I.
Dolma Impact Fund I was the pioneer in institutional FDI and environmental and social standards from 2014.
The portfolio of Dolma I includes eCommerce firms, AI ventures, companies in renewable energy and pharmaceutical manufacturing, and medical care.
The investment will help the company to expand its operation in other cities across Nepal with logistics solutions for on-demand delivery of bulk goods as well as e-commerce & agriculture sectors.
Through this investment, Upaya and Dolma aim to create an impactful partnership in the Nepali logistics sector.