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.