B2B Hyperlocal Delivery Startup Opinio Raises $7M in Series A

Shown Above: Core members of 100 people strong team Opinio

Shown Above: Core members of 100 people strong team Opinio

India based hyper local delivery startup Opinio has raised $7 million in its Series A funding from logistics company Delhivery, Sands Capital and Accel Partners. The firm will deploy this fund towards building its technology platform, expanding to multiple cities and strengthening product portfolio.

Accel Partners had also invested in the company’s seed round, followed by a $1.3 million bridge round before the latest one.

Founded in June 2015, by IIT Kanpur alumni Mayank Kumar and Lokesh Jangid, Opinio helps small businesses (Merchants) including– restaurants, grocery stores, bakeries and laundry stores – fulfil their demand by offering delivery as a service in a 5-7Km radius.

Commenting on the latest round of funding, Mayank Kumar, Co-founder & CEO, said “We are seeing a phenomenal 30% week on week growth in all markets across the country.”

In about 4 months from its launch, the startup has grown to a 100+ team, from across the country including alumni of IIM and ISB. Currently, Opinio operates in Bangalore, Delhi/NCR, Hyderabad, and plans to hire atleast 200 more people in its core team over the next six months.

With Delhivery’s backing the company can leverage the former’s logistics capabilities and network. Opinio appears to be chasing the Grofers model, offering an O2O model for hyper local deliveries. However, Grofers has now evolved into mainly a grocery delivery startup with only a couple of other categories like electronics, and according to a report it has stopped operations in Delhi and Noida to address operational issues.

Ex-Delhivery team members Navneet Singh and Milind Sharma had launched Nuvo Logistics in 2013, eventually they also found grocery to be a fertile space and launched Peppertap in November 2014. Grocery and restaurants are two most popular segments for hyper local delivery startups. Besides the grocery delivery startups, Opinio is competing with other hyperlocal delivery firms like Quickli, Roadrunnr and Shadowfax.

Similar Read:  Across Land, Sea and the Internet: One Startup’s Journey Into India
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  • hemenparekh

    TEN
    MILLION ENTREPRENEURS ?

    Each year , India adds 12 million youth to its
    work-force

    Only 2 million get jobs , leaving 10 million to fend
    for themselves

    Eking out a ” subsistence living ” , these 10
    million are euphemistically called,

    > Self
    Employed

    > Start-Ups

    >
    Entrepreneurs

    There is an urgent need to go beyond rhetoric / lip
    service / tinkering , to empower them , to become REAL entrepreneurs

    I have explained how this can be done in my earlier
    blog :

    THE NEW ECONOMIC ORDER / START UP ACT , 2015

    ( read at…..hemenparekh….in > blogs )

    Some naysayers are bound to say :

    ” But entrepreneurship cannot be taught

    Either it is
    in your blood or it is not ”

    Then they will try to support their argument by citing
    Bania communities

    Accepting this argument , would be a defeatist attitude
    !

    Here is how we can produce a generation of
    ENTREPRENEURS , 5 years from now ( if we start NOW ) :

    * Introduce
    ” Entrepreneurship ” as an mandatory subject in High Schools

    and Colleges

    * Each such
    School / College to be ” Adopted ” by a Corporate ( CSR ? )

    * Each adopting
    Corporate will bear the full expense of running this

    course (
    Teachers’ Salaries etc )

    * Such expense
    to be tax-exempt ( or offset as Corporate CSR obligation )

    * Exams to be
    in the form of presentation by teams of final year students

    on,

    ” HERE IS A BUSINESS I PLAN TO
    START ”

    * Presentations
    to be judged by Panels of Venture Capitalists / Angel

    Investors /
    Incubators etc

    * Winning teams
    ( 1st / 2nd / 3rd prize ) , to be offered
    funds by the

    Panel
    Members ( as seen in some TV programs )

    Fund amounts
    should be small ( Max Rs 100 lakhs ) and preference to

    be given to projects
    involving healthcare / education / manufacturing /

    agriculture
    / food processing etc

    * Winning Teams , setting up Start Ups with
    these VC funds , to be

    encouraged
    to hire graduating students from the non-winning teams

    This ”
    encouragement ” to be in the form of reimbursement of salaries of

    such hires ( only such hires ), under ” Employment Generation Subsidy ”

    from
    concerned State Government , where this Start Up gets registered ,

    since ,
    employment is a State Subject

    Such Salary-reimbursements
    will be for first 3 years of Start Up

    To create an entire GENERATION of ENTREPRENEURS , we need to start
    at the roots

    Some years later , when this FIRST generation becomes
    parents of their own 10 year olds , those SECOND generation youngsters will
    have entrepreneurship in their genes !

    This is one way of preparing a GM ( genetically
    modified ) Generation , to which , there ought to be all round support

    ———————————————————————————–

    hemen parekh

    20 Oct 2015

    B2BmessageBlaster