Upaya Secures Rs 280 Million to Transform Logistics Across Nepal

Upaya, Nepal’s pioneering tech-enabled logistics company, has announced the successful closure of its Rs 280 million ($2 million) Series C funding round from Dolma Impact Fund II.

The funding marks a major milestone in Upaya’s journey to make logistics across Nepal faster, efficient, and more inclusive, the company said in a statement, adding that it is in process of closing this round privately with additional investment of Rs 270 million as Quarterback Round II from its friends, acquaintances and family circle, making total fund closure of Rs 550 million.

Founded in 2019 with the vision of connecting businesses, drivers, and customers through a seamless digital platform, Upaya has grown from a small Kathmandu-based startup into a national leader in on-demand, enterprise, and intercity logistics solutions along with door-to-door fulfillment and third-party logistics (3PL) warehousing services. 

It currently powers deliveries for thousands of businesses and supports a growing network of logistics solutions across Nepal.

Upaya said it has raised over Rs 2 billion, so far, in funding, including this round. 

“Dolma Impact Fund II (whose investors include FMO, BII, SwedFund, IFC, DFC, and JICA) has invested Rs 710 million and has been Upaya’s most significant and consistent funding partner, playing a key role in its growth trajectory,” read the statement.
 
“This fundraise is not just about capital—it’s about making a footprint to consolidate the entire ecosystem ranging from Rides/Food/Goods and Commerce and unlocking opportunities for businesses and livelihoods for many,” the statement quoted Suman Rayamajhi, Managing Director and Co-founder
of Upaya, as saying. “With this investment, we’re ready to scale our platform, consolidate the ecosystem, transfer innovative services to regional markets like Sri Lanka and Bhutan, and set a new benchmark and hope for all the upcoming startups in Nepal.”

The company said the new funding would be used to accelerate technology enhancement including AI-driven logistics platform to improve customer experience, expansion of 200 support hubs/branches all across Nepal for greater efficiency and network, and for the equity participation in 3PL warehousing project.

Tim Gocher OBE, the founder and CEO at Dolma Fund Management (Dolma Impact Fund II’s manager), commented: “Upaya is not just solving a logistics problem—it’s building the infrastructure for more efficient and sustainable logistics networks to grow across Nepal. Their strong execution, deep local knowledge, and scalable technology make them an ideal partner for creating long-term impact.”

Co-founder and Director of Upaya Ranjeev Shrestha said, “From our early growth stages to our latest expansion, Dolma’s trust, capital, and strategic guidance have been instrumental in turning our vision into reality. Their belief together with other investors in our mission to transform logistics in Nepal and beyond has given us the confidence and resources to scale faster, serve better, and innovate boldly.”