Whether companies make a profit in e-commerce or not, the supporting industries are surely getting business. In just almost a fortnight 3 major e-commerce logistics companies in India have raised some serious funding. While on one hand investors seem to be losing the flavour of investing in e-commerce businesses, they still seem to have a lot of faith in those handling the supply chain operations of multiple online retailers.
Also Read: The Logistics of E-Commerce Delivery
Here are the logistics companies which raised investments to grow their business.
New Delhi based logistics company HoliSol, which specializes in 4 PL services, had raised USD 1.5 million in its first round of VC investment from oil and gas professional Sundeep Bhandari, through his company Datavision.
A company official said “Holisol’s future plans include expansion of its footprint by having operational facilities in Tier 2 and Tier 3 cities, thus helping their customers with the market reach through operations excellence,” Currently the company is handling the back-end operations of companies like Jabong, FabFurnish, Freecultr, Amway among others.
Delhi based e-commerce logistics services company, Delhivery had secured USD 35 million in Series C led by Multiples Alternate Asset Management. The existing investors Nexus Venture Partners and Times Internet also participated in the round.
It aims to utilize the raised funds to further expand its network, fulfillment space and technology portfolio.The company provides logistics services such as inventory management, cash on delivery, warehousing, last mile delivery and tracking etc.
Ecom Express raised over USD 16 Million from Peepul Capital to grow its distribution capabilities in the next 5 years. Also, the company expects to deliver about 20 million packages this year. Currently, the company is focused on opening up new locations across North, South and West India.
Ecom Express further plans to expand its distribution capabilities in the East and North East in a phased manner within the next few months. With these rounds of expansion, Ecom Express would offer reach across the country. Within the next three years, the company expects to cover nearly 500 towns and cities.