Apart from the investments of Angels and VC, it is raining funds for the logistics startups as matured startups are investing in the new-age ones, ecommerce companies and others, also started showing interest in the same. Gurgaon based logistics startup, Delhivery and Tracxn Labs, has invested over $5 Mn in logistics services startup Parcelled.
It is Delhivery and Tracxn Labs’ second investment in the startup, and had also participated in the seed round.
This announcement came within two weeks after Delhivery, Sands Capital and Accel Partners invested $7 Mn in Opinio, another Bangalore-based B2B hyperlocal delivery startup. Earlier, Snapdeal had also hiked its investment in Gojavas with additional $20 Mn.
This is a Series A round for Parcelled, the funds raised in this round will be to invested in technology and expand to 50 cities. It was started in March 2015 by ex-Flipkart employees Xitij Kothi, Rikin Kachhia, Abhishek Srivastava and Nikhil Bansal. It is an online courier service, providing on-demand home pick and drop courier service. The Parcelled representatives reach at the pick up location with packing material, and proceed forward for delivery. Parcelled, currently, operates in 8 cities including Delhi, Bangalore, Mumbai, Chennai and Kolkata. It has also tied up with Delhivery, Fedex, DRL, Bluedart and DHL for courier services. From managing 1000 orders a day, with a fleet of 150 people on ground, in July, it claims to have now touched 10,000 orders per day with a fleet of 600 people.
Speaking to Inc42, Xijit said, “We want to be a first mile company. But we have just started scraping the surface. We are looking at increasing portfolio outside the B2B arm, to provide more services to the consumers. We are also looking at introducing priority options like Next-day-delivery, and same-day-delivery.”
The startup will also invest in technology to automate a lot of processes like calculating price of the parcel.