Upaya, a leading logistics company enabled by technology, recently had an investment closure of NPR 6 crore from Nepal Infrastructures Investment Fund Limited (NIIF), a permanent capital venture jointly promoted by Global Equity Fund (GEF), Prime Life Insurance & Himalayan Everest Insurance, and managed by GEF.
In the year 2021, Upaya successfully closed funding worth NPR 18 crore from Dolma Impact Fund II and the fund was used for the expansion of the company along with introduction of various logistics solutions across the country. Upaya has been successful in integrating all aspects of logistics involving market aggregation operation and End-to-End Delivery operation (First Mile, Mid Mile and Last Mile).
Currently, Upaya has already established a network of 5 branches, 10 Regional hubs and 100 plus last mile delivery locations all across the country.
“The funding from NIIF will be used for business expansion and growth of Upaya 2.0 and will help the Company to move towards the path of profitability,” says Suman Rayamajhi, Managing Director of Upaya.
He further added that Upaya is committed to make investment in 2 key areas i.e. Infrastructure and Technology, to uplift and collaborate the entire logistics sector of Nepal involving driver/rider partners, franchise partners, business partners and alliance partners.
“With this investment, NIIF is confident that Upaya will continue to revolutionize the logistics
industry and drive growth in the coming years through its use of advanced technology and
innovative approaches to solving common challenges” Dr. Manish Thapa, Managing Director of
Global Equity Fund, Investment Manager for NIIF.
The Series B closing target of Upaya is NPR 40 crores for the successful completion of Upaya
2.0 and the company expects to close its funding target by end of Year 2023.
About the company
Upaya has been delivering quality logistics solutions with a commitment to transforming the way things move in Nepal. The company was founded in 2018 and has experienced rapid growth in recent years. Currently, Upaya has been providing logistics services across four verticals targeted towards the needs of different types of businesses and individuals in Nepal.
Global Equity Fund Private (GEF) is a private equity fund manager incorporated in Nepal and first SEBON licensed Specialized Investment Fund (SIF) Manager. It is managing investments for NIIF. Additionally, GEF advises (provides advisory services) about USD 35 million worth of portfolio.
What is Upaya 2.0?
Upaya 2.0 focuses on the logistics sector upliftment in collaboration with all existing partners/stakeholders involved in transportation. The major areas of focus of Upaya 2.0 are building automated warehouse for 3PL base of operation, Upaya Station – Truckers Resting Hub across the Country, Upaya-Nagar – Transporters hub along with a Multi Transport System in East, Central & West Nepal for inter-city synchronization under Upaya Alliance.
Along with this, Upaya 2.0 targets to have 300 plus pincodes delivery points for catering to customer’s easy delivery across Nepal.
The above infrastructure will be complemented by a world class Track & trace system, transparent pricing and better customer experience through call center, easy app and web-version access.
Upaya aims to provide and explore opportunities of partnership and collaboration to all the existing transporters, truck owners and associations to create an effective logistics ecosystem in Nepal.
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