- TOCAL has raised ₹9 crore in a funding round led by XB Group, the parent group of K-Indev Logistics, to expand operations and set up fulfilment centres.
- The investment round included a commitment of ₹8.5 crore from XB Group, with participation from Navyug Global Ventures and Nivetha Muralidharan, an HNI investor.
- This funding marks the start of a strategic collaboration between TOCAL and K-Indev Logistics to create an integrated logistics platform.
- TOCAL aims to expand operations beyond Bengaluru into major metropolitan cities and establish strategically located fulfilment centres.
- Over the next 4-5 years, TOCAL plans to expand to more than 15 cities and deploy over 20,000 electric vehicles.
TOCAL, founded by Dhairyasheel Deshmukh and Hidayathulla Shareef in 2021, is revolutionizing sustainable logistics through its tech-enabled EV fleet. The recent ₹9 crore funding will facilitate expansion beyond Bengaluru into major metropolitan areas, establishing 75 fulfillment centers and deploying over 20,000 electric vehicles over the next 4-5 years.145
"Together with K-Indev Logistics, we are creating an integrated platform that combines fulfilment through strategically located micro-warehouses with a tech-enabled EV fleet to support the next phase of India's commerce growth," said Deshmukh, the founder & CEO of TOCAL.
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The investment, led by XB Group, includes a commitment of ₹8.5 crore and participation from Navyug Global Ventures and HNI investor Nivetha Muralidharan. The funds will enhance fleet, warehouse, and order management technology, while strengthening enterprise sales and strategic partnerships.2
TOCAL aims to partner with over 1,000 brands as it scales its operations, which currently focus on e-commerce, quick commerce, and direct-to-consumer (D2C) brands. The company is set to play a crucial role in the evolution of India's logistics landscape, leveraging electric vehicles for last-mile delivery and sustainable commerce.
“The seed round was led by XB Group with ₹8.5 crore, with participation from Navyug Global Ventures and HNI Nivetha Muralidharan. TOCAL plans to expand beyond Bengaluru into major metros and deploy over 20,000 EVs across 15 cities in the next 4-5 years.”
Awaz The Voice
