The logistics services provider Upaya has announced an investment closure of Rs 60 million from Nepal Infrastructures Investment Fund Limited (NIIF). Managed by Global Equity Fund (GEF), the NIFF is a capital venture jointly promoted by Global Equity Fund (GEF), Prime Life Insurance and Himalayan Everest Insurance. According to Upaya Managing Director Suman Rayamajhi, the funding from NIIF will be utilized for the business expansion and growth of Upaya 2.0. "Upaya is committed to making investments in two key areas of infrastructure and technology to uplift and collaborate the entire logistics sector of Nepal involving driver/rider partners, franchise partners, business partners, and alliance partners," he said.Dr. Manish Thapa, Managing Director of GEF said that with new 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.

In 2021, Upaya successfully closed funding worth Rs 180 million from Dolma Impact which was used for the expansion of the company along with the introduction of various logistics solutions across the country.

Issuing a press statement Upaya said that the company has been successful in integrating all aspects of logistics involving market aggregation operations and end-to-end delivery operations. Currently, Upaya has a network of five branches, 10 regional hubs, and 100 plus last-mile delivery locations across the country. Established in 2018, Upaya has been providing technology-enabled logistics services to its clients. The company says it has been providing logistics services across four verticals targeted toward the needs of different types of businesses and individuals in Nepal. "The Series B closing target of Upaya is Rs 400 million for the successful completion of Upaya 2.0 and the company expects to close its funding target by end of 2023," reads the statement. According to the statement, the major areas of focus of Upaya 2.0 are building automated warehouses for the 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 and west Nepal for inter-city synchronization under Upaya Alliance. "Along with this, Upaya 2.0 targets to have 300 plus pin codes delivery points for catering to customer’s easy delivery across Nepal," says the company.