Supply chain management and logistics startup Emiza Inc has secured $4.5 Mn (INR 30 Cr) in the latest round of funding, led by US-based VC firm Mayfield.
The round also saw participation from Nishant Rao, Global COO at Freshdesk & Chairman, IAMAI, and Dileep Nath, MD Aaroha Pte. Ltd. The investment has been facilitated by Mayfield’s India- focussed fund, Mayfield India II.
The infused funds will be deployed by the startup to enhance its technological base and acquire talent for its senior leadership team.
Commenting on the investment, Vikram Godse, Managing Partner, Mayfield Advisors LLP said, “Primary distribution, as well as last-mile logistics, is a well-funded space in India. However, there is an absence of an established player to connect the dots between these two spaces. By providing a tech-driven, one-stop, logistics solution combined with a hub-and-spoke warehousing model which drives costs lower, Emiza’s offering is going to be a big painkiller for its customers.”
The startup was launched in 2015 by Ajay Rao and Rajesh Sharma and is currently based out of Mumbai. Emiza offers logistics services to small cities and towns. It specialises in omnichannel and multichannel management and claims to fulfill orders from store inventory or just-in-time model of product procurement. It also offers clients an integrated warehousing platform.
In May 2016, Bengaluru-based Locus, a logistics management startup, raised $2.75 Mn (INR 18.3 Cr) in Series A funding led by Exfinity Venture Partners. In November 2016, Gurugram-based logistic platform, Rivigo raised $75 Mn from an affiliate of Warburg Pincus, a leading global private equity firm focussed on growth investing. In March 2017, it again raised about $15 Mn (INR 100 Cr) debt finance from undisclosed lending private sector banks.
In March this year, Delhi-based ecommerce logistics firm Delhivery also raised $100 Mn in funding from US-based investment fund Carlyle Asia Partners, with participation from existing investor Tiger Global.
Other startups operating in the similar space include Ahmedabad-based logistics IoT startup Locanix, Bengaluru-based B2B logistics startup BlackBuck, etc.