India’s WareIQ Raised $1.65M for Its Amazon-Like Delivery Platform for Sellers

Pooja Vishant | Nov 07, 2020

WareIQ, India’s modern e-commerce fulfillment platform, is designed to simplify the ecosystem through its software and connects a network of fulfillment centers to last-mile couriers. This platform centralizes all tools on its platform and it has raised $1.65M backed by YC, FundersClub, Pioneer Fund, Soma capital, Emles Venture Advisors, and Founders of Flexport.

This platform was started in 2019 by Harsh Vaidya and Aayush Motto to enable many brands in India to offer next-day delivery and compete with Amazon and Walmart.

Billions of dollars are flowing into India through e-commerce firms like Amazon and Walmart. Offline sales demand 95% of sales in the world’s second-largest internet market. Mukesh Ambani, India’s richest man, made dynamic approach to improve the online presence of neighborhood stores. He launched JioMart, an e-commerce venture between Jio platforms and Jio Retail, it delivers across 200 cities and towns in India.

WareIQ is dedicated to utilize its infrastructure for e-commerce order processing. The company offers its reliable services to third-party sellers, e-commerce firms, social commerce platforms, neighborhood stores, and social media influencers. 

This company has integrations with several e-commerce platforms and marketplaces, and aligns with courier partners to move items from one warehouse to another and ensure timely delivery, explained Harsh Vidya, WareIQ’s Co-Founder.

WareIQ’s infrastructure allows many online sellers to set up own online store and engage with the potential customers. This company has built up open source fulfilment services where any seller can accomplish their Amazon orders, Myntra orders, Flipkart orders or their own site’s orders. 

Today, this startup has collaborated with over 40 fulfilment centers and plans to deploy its new capital for expanding its network to tier 2 and tier 3 cities. This one-year-old startup has a platform leveraging the platforms across the country. WareIQ has built an advanced management system for these warehouses, which had little to no prior e-commerce exposure.

WareIQ works in three steps mitigating issues in traditional e-commerce fulfillment:

  • Brands connect their online store to the platform and send their inventory to WareIQ
  • WareIQ follows smart inventory placement by locations
  • When a customer places an order, WareIQ ships it from the nearest warehouse

WareIQ has standard storage rates, order processing, last-mile delivery, and a tech platform. Brands can fulfill their orders in a plug-and-play manner with the pan-India network of over 100 warehouses. 

This company aids India to upgrade to advanced supply chain infrastructure to meet customer expectations and fulfill deliveries in time.

About Author

Pooja Vishant

Pooja Vishant

After dwindling with her family business, into travel and hospitality, for more than 3 years, Pooja Vishant found her true love in writing. Happy-go-lucky and cheerful, she loves pink; so pink is the way to go if you want to get into her good books. The Associate Editor keeps track of even a leaf that has moved in the ecommerce world!

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