Delivery startup Blitz gets $3 million from India Quotient, Better Capital, Titan Capital, others
Summary
Same-day delivery startup for omnichannel sellers Blitz (earlier Grow Simplee) has raised $3 million from a clutch of investors including India Quotient, Better Capital, First Cheque, Titan Capital and angels including Farid Ahsan, Abhinav Jain, Rahul Dash, Kunal Shah, Prabhkirandeep Singh, Ishendra Agarwal, Kalpak Chhajed, Arjun Vaidya, Gaurav Pushkar, Piyush Kedia, and Anshoo Sharma. The company said it will deploy funds to enhance technology infrastructure and expand its network of dark stores.Launched in 2021 by Gaurav Piyush, Yash Sharma and Mayank Varshney, Blitz offers same-day delivery for sellers for orders placed before 3 pm. Sellers can predict and store inventory near their customers in Blitzs dark stores, offer 4-hour delivery to buyers, and fulfil all orders on the same day.Faster delivery and efficient inventory placement enable sellers with higher customer satisfaction, lower RTO%, faster realization of capital, faster feedback, and reduced logistics cost, the company said.With simple-to-use products and high levels of operational excellence, we enable enterprises and medium-size brands with the ability to orchestrate faster deliveries at efficient costs providing their management and logistics team with visibility and higher controls, said Mayank Varshney, Co-founder & CEO, Blitz.The e-commerce logistics industry has not evolved in the last 10 years to meet the needs of omnichannel brands, although consumers and businesses have both evolved. Blitz is a fabulous solution and a great team Anand Lunia, Partner at IndiaQuotient said.According to a report by the RedSeer Strategy Consultants in April this year, Indias e-commerce logistics market is on track to cross 10 billion shipments by FY28 at a compound annual growth rate of 20 per cent. The segment saw total shipments reaching 4 billion in FY23.Subscribe to Financial Express SME (FE Aspire) newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises