Plans To Expand to Mumbai, Pune and Chennai
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Bangalore–based B2B hyperlocal delivery startup, Opinio, has secured $7 Mn in its Series A funding from logistics company, Delhivery, Sands Capital and Accel Partners.
Confirming the news, Mayank Kumar, founder and CEO of Opinio shared that the startup will use this fund for expanding to newer cities like Mumbai, Pune and Chennai and have plans for another 10 cities in the pipeline. Post this, Delhivery’s Founder and CEO, Sahil Barua will join Opinio board.
Prior to this round of funding, in July, it raised nearly $1.3 Mn from Accel Partners, TraxcnLabs and other angel investors in seed funding.
Promoted by Moonshots Internet, Opinio, was started in January this year by IIT Kanpur alumni Mayank Kumar and Lokesh Jangid. The startups provides pick up and home delivery services to stores and restaurants; it has also partnered with Foodpanda and Tinyowl.
The startup claims to deliver around 10,000 orders a day for over 100 grocers and restaurants. In July it was processing more than 1,000 orders per day. It has around delivery staff of 1500, which it calls as Ground Pilot. Currently, it operates in Bangalore, Delhi and Hyderabad.
It is competing with other hyperlocal logistics startups like Bangalore-based, Roadrunnr and Parcelled and Mumbai-based Grab. Roadrunnr raised $11 Mn from Sequoia Capital, Nexus Venture Partners and Blume Ventures, while Parcelled was funded by Tracxn Labs. Grab got investment from Zomato. Another B2B hyperlocal delivery startup, Gurgaon-based Shadowfax had raised $300K from Kunal Bahl and Rohit Bansal of Snapdeal, Zishaan Hayath of Powai Lake Ventures and Prashant Malik of Limeroad.
Opinio seems to be building a healthy pipeline for investments, and it becomes crucial as market is getting competitive and difficult. Last week, Bangalore-based B2B hyperlocal delivery startup, Townrush, fired the delivery team comprising of 30 people and is said to be facing cash crunch.
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