PH startup Shipmates raises PHP125M to grow its shipping platform

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CTO David Marquez and CEO Josh Supan of Shipmates. (source: Shipmates)

Shipmates, a Philippine-based shipping platform backed by Y Combinator and Iterative, announced that it had raised USD2.2 million or USD125 million in a seed funding round. The seed round was participated by Cathexis Ventures, Wavemaker Partners, Taurus Ventures, Capital X, Sketchnote Partners, and other prominent investors.

Shipmates plans to scale its platform to be the preferred shipping tool of Philippine merchants. The company also aims to improve the country’s shipping infrastructure by supporting online businesses and shipping companies.

Shipmates was founded by CEO Josh Supan and CTO David Marquez as a startup that helps e-commerce businesses grow by making their shipping process easier and faster. The platform allows online business owners to book standard or multiple orders and compare rates between different couriers.

“When talking to online sellers, their biggest pain point has always been how manual shipping still is in our country. We built Shipmates to automate this, we built Shipmates for them and we are very glad to be joined by our amazing investors in making this vision a reality,” Supan said.

Supan and Marquez started Shipmates back in July 2021 and launched their beta later in August that year. Following this success, the company got accepted into the SEA startup accelerator, Iterative. The shipping aggregator later raised USD500,000 or USD25 million seed funding from Y Combinator. 

“Instead of shippers booking couriers manually on their phones or physically dropping off packages, their orders feed straight into Shipmates, and they can pick a courier for shipping from there,” added Supan.

Shipmates are the 8th startup in the country to be accepted into the Silicon Valley-based startup accelerator, joining the likes of Paymongo, Kalibrr, NextPay, and MadEats.

To know more about this new shipping platform startup, visit its official website here.