money

Bangalore based shipping services startup Parcelled.in has raised $5 million in a round of funding led by the logistics firm Delhivery and participation of Tracxn labs. The company will use the funds to improve its technology, for hiring, and to expand to 50 cities across the country.

The startup has also announced that it expanded to Hyderabad, Chennai, Kolkata, Surat, Ahmedabad, Chandigarh, Gurgaon/Noida and Indore. Note that Parcelled had raised an undisclosed amount of funding from the same investors in July. The startup said then that the funds would be used for backend infrastructure and to expand to at least eight other cities in the next six months.

Parcelled provides users with an on demand courier service. It works by letting users enter the source city, destination city and item name, post which a serviceman is send at the preferred time slot. The company takes care of packing the item on spot and then couriered as usual. As of now the service was initially only available from Bangalore and Mumbai, with deliveries made in Delhi, Chennai and Hyderabad.

In May, Delhivery raised $85 million from Tiger Global and existing investors, after having raised $35 million in Series C round of funding in September last year. At the time, the platform said it would use the funds to build infrastructure and design new services for e-commerce, hyper-local commerce, C2C commerce and other verticals with specialized requirements like reverse logistics, furniture and grocery.

Delhivery’s investments:

– Earlier this month Delhivery, along with other investors, invested $7 million in the hyperlocal delivery startup Opinio. Founded in January this year by Mayank Kumar and Lokesh Jangid, the startup provides last mile delivery services to grocers, restaurants, bakeries and laundry stores.

– Delhivery had previously acquired the offline cash collection network of Gharpay and the Gharpay brand for an undisclosed amount in June 2013.