Mumbai based Parsel, a logistics company, has acquired Accord Ecom Solutions, a third party logistics provider, and will merge the latter into Parsel, through cash and revenue sharing, reports ET. The merged entity will be known as Parsel. The company will get access to delivery software system, the sales team, Accord’s clients and Tier II service areas like Indore and Jaipur, where BillBoxGo, Accord’s delivery service delivered. BillBoxGo was apparently catering solely to Flipkart in 19 cities.
Parsel was founded by Akhil Sharma, Himanshu Meena and Rakesh KS in September this year, and had raised angel funding of Rs 3 crore ($450,000) from Nimir Mehta in August. The ET report also adds that Parsel has a cash burn rate of Rs 40 lakh a month, and its revenues crossed Rs 1.5 crore last month. It claims to make 12,500 deliveries daily in Mumbai, Delhi and Bangalore, and claims clients in Bisleri, Snapdeal, Flipkart, Holachef, Amazon, CyberChef, Samsung, FabFurnish, Faasos, PepperFry and Zopper among others.
Parsel has a tie up with Done Solutions, which offers cloud based order management, CRM and analytics, to provide last mile delivery services. It connects the shipper (its user) with carrier through web or mobile apps and was initially a rental logistics service, but now owns a delivery fleet which includes biks, tempos or lorries. Local carriers can also utilise its service to enhance their efficiency, the company says.
The Mumbai based Accord Ecom was founded by Gautam Raghuvanshi, Viraj Janak Majmudar and Kedarprasad Sharad Lathkar this year.
Developments in the online logistics sector this year:
– Earlier this month, QikPod raised a little over $9 million (Rs 60 crore) from Foxconn, Accel Partners, Flipkart and Delivery.
– Flipkart acquired a strategic minority stake in MapmyIndia to pad its supply chain (first mile pickup, last mile delivery) and logistics operations.
– In October, Grofers acquired the B2B logistics service provider Townrush for an undisclosed amount.
– In the same month, MagicTiger acquired Zoyo, an artificial intelligence based platform that let users shop over chats, in an all cash and stock deal.
– Same month, Bangalore based shipping services startup Parcelled raised $5 million from Delhivery and Tracxn labs.
– Opinio raised $7 million in a Series A round of funding from Delhivery, Sands Capital and Accel Partners.
– Snapdeal invested $20 million in logistics firm GoJavas to enhance its supply chain and logistics.
– In September, Delhi-based ShadowFax raised $8.5 million in a Series A round of funding from Fidelity International’s investment arm Eight Roads Ventures.
– In August, Pickingo raised $1.3 million from multiple investors.
– In June, Ecom Express raised Rs 850 crore from private equity firm Warburg Pincus.
– In May, Delhivery raised $85 million in a Series D funding.
– In March, FabFurnish launched a shipping solutions provider called FabOne.
– In February, Infibeam launched a SaaS-based logistics services aggregation platform called ShipDroid, which would help merchants deliver packages throughout the country.
Image Credit: Parsel