Mumbai-based e-commerce logistics startup Wow Express has raised series A funding of $4.5 Million from its existing investor Tamarind Family Private Trust, the investment arm of the Mansukhani Family, which is a co-promoter of consumer electronics brand Onida. According to various media reports, the company plans to use the capital to expand its geographical presence, strengthen its technology and hire senior management executives.
Founded in January 2015 by Sandeep Padoshi, Mazhar Faruqi and Jayesh Kamat, the platform provides logistics solutions to e-commerce players, with features like reverse logistics, real-time updates etc. The company has about 70 distribution centres across Mumbai, Delhi, Hyderabad, Bangalore, Chennai, Bihar, Gujrat amongst others. Wow’s clients include e-commerce players like Nykaa, Limeroad, Rediff, Ziwame, Romwe, Shein etc.
Besides e-commerce shipping, Wow Express has also forayed into health and diagnostics delivery operations where it delivers blood samples and bodily fluids from labs to diagnostic companies. It currently has Dr Lal Path Labs as its client for the same.
Previous Funding
Earlier, Wow Express had raised $2.2 million (around Rs 15 crore) in a pre-Series A round of funding led by US-based unnamed investors with participation from Tamarind Family, in May 2016. Before that in August 2015, it raised $500,000 in a round of funding from Tamarind Family. As a part deal, Vijay Mansukhani joined the startup’s board.
Competition
The logistics segment is seeing a lot of traction, with companies catering to different needs in this segment. Some of the players are Cogoport, Locus, BlackBuck, Ecom Express, FarEye, Alibaba-backed XpressBees, Delhivery, Rivigo, Loadshare, NSE-listed Gati etc. Other than this, big e-commerce players have their own logistics solutions like Flipkart, has eKart, Amazon India has Amazon Transportation Services (ATS) etc.
See our Logistics coverage here.
