Upaya secures more funding

Upaya, a Nepal-based logistics company founded in 2019, has raised Rs280 million from Dolma Impact Fund II. This forms part of a larger fund-raising round, with an additional Rs270 million expected from private investors.

The firm operates a digital platform connecting businesses, drivers, and customers for on-demand, enterprise, intercity logistics, door-to-door fulfillment, and third-party logistics (3PL) warehousing. It handles deliveries for thousands of businesses and maintains a nationwide network, using vehicles ranging from two-wheelers to trucks, managing the supply chain from pickup to delivery.

The new funds will support technology upgrades, including an AI-driven logistics platform for better efficiency and customer experience, expansion to 200 support hubs and branches across Nepal, and equity investment in a 3PL warehousing project.

Dolma Impact Fund II, managed by Dolma Fund Management and backed by investors like FMO, BII, SwedFund, IFC, DFC, and JICA, has been Upaya's primary funding partner. Tim Gocher, Dolma's CEO, noted the company's role in building logistics infrastructure. Upaya's co-founders, Suman Rayamajhi and Ranjeev Shrestha, highlighted the investment's role in ecosystem consolidation, regional expansion to markets like Sri Lanka and Bhutan, and supporting startups.

To date, the company has secured over Rs2 billion crores in funding, with Dolma contributing Rs710 million across rounds.