JustDeliveries Secures ₹5.5 Crore from VC Grid, NABVentures to Power IntraCity Logistics Expansion

12 May’2024, New Delhi: JustDeliveries, a new-age cold chain logistics startup redefining mid-mile logistics for India’s food and beverage sector, has raised ₹5.5 crore funding in a round co- led by VC Grid and NABVentures. Investors included LetsVenture, Anay Ventures, FAAD Network and others.

The capital infusion elevates JustDeliveries’ total funding to $2 million (approximately ₹15.9 crore), further enabling its mission to bring structure and reliability to India’s $200 billion logistics landscape, where 90% of operations remain unorganized and prone to inefficiencies. The funds will be used to enhance its technology capabilities and expansion into three new cities including Lucknow and Chennai. Currently it has its operations in Bangalore, Delhi, Hyderabad, Mumbai and Pune.

Since its inception, JustDeliveries has emerged as a critical partner for over 100 F&B brands, including industry leaders like ITC, Swiggy, Blue Tokai, Biggies Burger, and Naturals Ice Cream. The company’s asset-light, plug-and-play third-party logistics (3PL) model addresses the acute challenges of transporting perishable goods across India’s vast and complex supply chains. Showing remarkable traction, JustDeliveries achieved a 2.4x year-over-year revenue growth in FY25, sustained by a 10.6% average monthly growth rate. The startup reached a pivotal milestone in December 2024 by attaining city-level profitability across all operational hubs – Mumbai, Pune, Bangalore, Delhi, and Hyderabad – while maintaining negligible bad debts and industry-leading receivables turnaround times.

JustDeliveries has a strong leadership team and has recently elevated Pradeep Murugesan and COO and co- founder.

NABVENTURES is a venture growth equity fund that invests in agriculture, food, rural businesses and agri/rural financial services at early to mid-stage. “NABVENTURES is excited to continue supporting JustDeliveries as they scale their innovative cold chain logistics solutions. Their impressive growth, focus on profitability, and strong client base underscore our confidence in their ability to transform the F&B supply chain landscape by driving efficiency and reducing wastage. NABVENTURES is pleased to be a part of their journey in building a more resilient food supply chain.” – Ashish Km Choudhury, CIO, NABVENTURES Ltd

VC Grid is a leading return-driven fund backed by Venture Catalysts, India’s leading integrated incubator and accelerator platform. Commenting on the investment, Vansh Oberoi from VC Grid, said, “JustDeliveries represents a rare convergence of operational discipline, scalable innovation, and market timing. In a sector traditionally burdened by high capital expenditure and fragmented service providers, Mansi and her team have engineered an asset-light platform that delivers consistent cold chain integrity while achieving early profitability, a feat that eludes most logistics startups. Their ability to maintain an impressive month-on-month growth in a competitive sector reflects both operational maturity and strategic foresight. We believe JustDeliveries is poised to become the backbone of India’s F&B logistics ecosystem. This investment aligns with our mission to back category-defining companies solving systemic challenges.”

Mansi Mahansaria, Founder of JustDeliveries, said, “When we launched JustDeliveries, we recognized that solving the gaps for the F&B industry required more than just infrastructure-it demanded a fundamental rethinking of logistics partnerships. By integrating technology with a flexible asset network, we have built a platform that scales with our clients’ needs while ensuring cost efficiency and reliability. We’re fortunate to have a set of investors who believe in building a valuable company on a strong foundation. This funding enables us to deepen our tech stack, become net profitable, and take our services to three new cities by FY26.”

With India’s cold chain logistics market projected to grow at a 23.5% CAGR through 2030, driven by rising demand for perishable foods and pharmaceuticals, JustDeliveries’ tech-enabled model addresses a critical infrastructure gap. The startup’s expansion into three additional cities will extend its geographic footprint to eight major hubs, aligning with client demands for pan-India distribution.