Bangalore-based hyperlocal delivery startup Opinio has raised $7 million in a Series A round of funding from Delhivery, Sands Capital and Accel Partners. Note that the startup had previously raised a part of this fund from Accel Partners in August. It had also raised seed funding from Accel and Tracxn Labs
Opinio will use the funding for improving its technology platform, expanding to other cities and strengthen its product portfolio. Currently, the company has a team of over 100, which it plans to expand to 300 people over the next six months.
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. It provides merchants with an app that can be used to call the nearest ‘Opinio Ground Pilot’, a delivery boy who will arrive within 5 minutes. The startup then claims to deliver these orders within 20 minutes, but with the service radius limited to 5-7 km.
As of now, the company claims to have delivered close to 1,000 orders daily for over 100 grocers and restaurants. Note that customers that are expecting the package can also track the delivery in real time. However, the company does not offer a consumer facing app, so we presume the company only offers web tracking for customers. Currently the platform operates in Bangalore, Hyderabad and Delhi/NCR.
Quick Take: We wonder if the Delhivery’s current investment in Opino is a lead up to further consolidation in the logistics sector. With Delhivery providing end-to-end logistics services across the country, acquiring a last mile delivery platform would make sense for it. However, the stake acquired by the company with the current investment is undisclosed.
Delhivery funding: Note that in September last year, Delhivery raised $35 million in Series C round of funding. At the time, the platform said it would use the funds to expand its network, fulfillment space and technology portfolio. The company had previously acquired the offline cash collection network of Gharpay and the Gharpay brand for an undisclosed amount in June 2013.
Other developments in last-mile logistics:
– Last month, Delhi-based AUTOnCAB, a cab and auto booking service, acquired the Gurgaon-based online grocery delivery startup BigZop in a stock and cash deal. Post acquisition the BigZop team was to work on a solution that would offer food delivery via auto rickshaws and cab drivers.
– Ola offers last mile food deliveries through a service called OlaCafe. The platform, which was launched in March, claims to make deliveries in 20 minutes and operates in Bangalore, Delhi, Mumbai and Hyderabad. It is not clear which restaurants users could order from or if Ola had tied up with particular restaurants for a faster delivery.