Bangalore-based hyperlocal delivery startup Opinio that claims to deliver nearly 1,000 orders a day for over 100 grocers and restaurants, has raised $1.3 million funding from Accel Partners. Earlier, it had secured seed funding from Accel and incubator Tracxn Labs in April. The latest investment will be used to build a scalable technological platform and deeply integrated products for both merchants and enterprises to ensure high reliability of service.
Cofounded by IIT-Kanpur alumni Mayank Kumar and Lokesh Jangid in January 2015, Opinio employs a technological platform where it stores customers’ geo-coordinates, which allows the company to deliver in 20 minutes. The company has made an algorithm to determine the exact number of delivery staff for a certain number of deliveries.
Hyperlocal logistics industry is catching up in India and a lot of investment action is happening in this space.
For instance, Bangalore-based Roadrunnr, a B2B online platform and service provider for hyper local logistics, has raised $11 million from Sequoia Capital, Nexus Venture Partners and Blume Ventures. Gurgaon-based on-demand logistics startup for local brick and mortar businesses, Grofers secured a funding of $35 million in series B round led by existing investor New York-based Tiger Global Management with participation from early backer Sequoia Capital India in April.
Other players which are also operating in similar space include Delhivery, Townrush and GoJavas.