There’s consolidation in the hyperlocal delivery startup space. Shadowfax an on-demand delivery startup has acquired its peer Pickingo for an undisclosed amount in a cash and stock deal, reports iamWire. Following this, 45 members of the management team will join Shadowfax along with a few hundred delivery boys.
The acquisition comes after a report from Mint last week which said Zomato and SAIF Partners pulled out from investing in the company. In August, Pickingo had raised $1.3 million in its first round of institutional funding, led by Rehan Yar Khan-backed Orios Venture Partners and Toppr Co-founder Zishaan Hayath. The company used to facilitate last-mile logistics services for companies such as Jabong, Snapdeal, Paytm and ShopClues.
Shadowfax on the other hand, had raised $8.5 million in a Series A round of funding from Fidelity International’s investment arm Eight Roads Ventures. Shadowfax also raised seed funding from angel investors including Kunal Bahl and Rohit Bansal earlier this year.
In October, Grofers acquired the B2B logistics service provider Townrush for an undisclosed amount. Founded in May this year by Prakash Banerjee, Ashutosh Banerjee and Tushar Bisht, Townrush connected customers and merchants with various logistic partners. The company charges merchants to deliver goods within 30 minutes, and claimed to currently complete around 500 orders a day in Bangalore
– In May, ecommerce logistics services provider Delhivery has raised $85 million in a Series D round of funding led by Tiger Global Management and participation from existing investors including Multiples Alternate Asset Management, Nexus Venture Partners and Times Internet Limited.
– In July, Roadrunnr raised $11 million from Sequoia Capital, Nexus Venture Partners, and Blume Ventures.
– In February, e-commerce company Infibeam launched a SaaS-based logistics services aggregation platform called ShipDroid, which would help merchants deliver packages throughout the country. The service is currently integrated with Infibeam’s BuildaBazaarand to use it merchants have to enable the setting in BuildaBazaar.