Bangalore-based B2B online platform and service provider for hyper local logistics services, Roadrunnr has raised $11 Mn in Series A round of funding led by Sequoia Capital, and existing investors Nexus Venture Partners and Blume Ventures.
The funds raised will be used in enhancement of Roadrunnr’s technology platform as well as for expanding nationally and building a dense delivery network.
Founded in 2015 by Mohit Kumar and Arpit Dave, Roadrunnr is a B2B hyper-local on-demand delivery service that helps book, track and manage deliveries at scale. The company serves to merchants, restaurants and ecommerce companies, managing their deliveries in a cost effective manner while adhering to service level agreements. The startup has operations in Bangalore and has recently launched its services in Delhi-NCR region. The company is piloting its services in Mumbai and is seeing a strong response from merchants.
Sameer Brij Verma, Principal, Nexus Venture Partners, says, “Hyper-local logistics is a very complex math and operational problem to solve at scale. A robust blend of platform thinking along with exceptional operational execution are critical to provide fulfilment services for merchants / online aggregators in a scalable and cost effective manner. Roadrunnr’s team has that great mix for solving this problem and we are excited to partner with them.”
On this development, Mohit Kumar, Co-founder and CEO, Roadrunnr said that as their services are asset light, involving no hubs or warehouses which allows a flexible model for both merchants and drivers. “In a short span of time, we have been able to achieve delivery accuracy of close to 100% and have reached about 1500 orders a day,” he added.
Roadrunnr partners with students, drivers and others who work with them on a part time basis. Their pricing model differs from other aggregators as they charge merchants a flat fee based on their shipment size rather than the value of the order.
The company has previously raised seed funding from Nexus Venture Partners and Blume Ventures.
Founders Mohit Kumar and Arpit Dave have previously worked with Flipkart. The team has previously worked with Ola, Amazon as well.
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