Delhivery had made a significant investment in Parcelled at the start of the year. Delhivery has also recently backed Opinio, a hyperlocal delivery company from Bangalore. These strategic investments are giving Delhivery a competitive advantage over new players who are entering the lucrative market, which include Shipsy, DaakNinja, and Pigen to name a few.
- Parcelled received around $5 million from Delhivery & Tracxn Labs
- Opinio recently picked up $7 million in funding from Delhivery, Sands Capital and Accel Partners
“The companies we have backed are solving crucial problems in the first mile and last mile legs of delivery. They make it easier to return parcels to e-commerce companies, provide immediate delivery options across categories from local retailers and enable a larger pool of people from the informal economy to participate in our fulfillment and delivery operations.” stated Sahil Barua, co-founder, Delhivery.
Pass the Parcelled
Parcelled currently serves small and medium sized businesses and small marketplace sellers who want to send goods quickly and cheaply compared to established market players. Parcelled will use the fresh funds to improve technology and reduce costs.
“We will focus on building robust allocation and routing algorithms, image recognition, data collection and other such technologies to reduce bottlenecks in the first mile,” said Xitij Kothi, chief executive and co-founder at Parcelled.
- Parcelled reportedly completes 10,000 orders per day
- Currently operates in 13 cities
- Wants to expand to 50 cities across the country
“With our new round of funding and expansion, we wish to make Parcelled a household name. There is a lot of untapped potential in this space and a need for a convenient, trustworthy, cost-efficient and fast logistics service. With the inflow of funds, we are looking to build a transparent, reliable and trusted logistics platform in India,” remarked Kothi.
Delhivery provides services such as third party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse shipping and vendor-to-customer shipping. Delhivery currently provides last mile delivery services for Parcelled and with the increased funding by Delhivery, the association between the two is set to move the delivery space up one notch.
“Parcelled is solving a fundamental consumer problem of being able to ship from anywhere in a frictionless manner. Backed by the size of our network, it would allow consumers to ship from anywhere to anywhere at the press of a button,” said Barua.
Signed, sealed and delivered
Delhivery which is based out of Gurgaon and owned by SSN Logistics is currently valued at $350 million. The company has reportedly reached a revenue of $130 million, through its hyper local delivery services, which currently operates in Delhi, Bangalore and Hyderabad. Delhivery is looking to grow further and is on the lookout to invest and sign up more promising companies who can take its delivery service to the next level.
“We will continue to look for strategic partnerships and will continue to work with and support new ventures in the hyperlocal delivery segment. With our network and the scale of our operations, we believe we can immediately improve the unit economics of our partners in hyperlocal delivery,” explained Barua.