First mile logistics provider Parcelled has raised $5 million in a round led by Delhivery
Parcelled, an on-demand first mile logistics provider, has raised $5 million led by logistics company Delhivery with the participation of Tracxn labs. The company will use these funds towards strengthening its core technology platform, expansion of its team, product portfolio and launch of multiple cities over the next six months.
Started by former Flipkart employees, Parcelled helps consumers, small marketplace sellers & SMBs ship items on-demand. Parcelled claims that within 30 mins the company’s ground staff picks up an item, inspects it, packs it and takes care of the end to end delivery. The company's major use cases include e-commerce returns, gifting & a lot of small e-commerce marketplace sellers. The company has further expanded its services to 8 cities in the country taking the tally to an existence in 13 cities.Parcelled has been founded by IIT graduates, Xitij Kothi, Nikhil Bansal, Prateek Bhandari, Rikin Kachhia and Abhishek Srivastava with an aim to solve the first mile logistics problems. Commenting on the funding, Xitij Kothi said “With our new round of funding and expansions, we wish to make Parcelled a household name. There is a lot of untapped potential in this space and a need for a convenient, trustworthy, cost-efficient and fast logistics service. With the inflow of funds we are looking to build a transparent, reliable and trusted logistics platform in India.”
Commenting on the investment, Sahil Barua, CEO of Delhivery said, "Delhivery was also the seed investor in Parcelled along with Traxcn labs. They are innovating on pickup models, on-site packaging and quality control to simplify the first mile process down to a single button. Backed by the size of the Delhivery network this would allow consumers to ship from anything anywhere at the press of a button."
Parcelled started its operations in march 2015, and within a short span of time has to a team of more than 110. In August, the company claimed to be doing 2,000 parcels every day. With the rise of e-commerce, enablers like Logistics has become a key sector of growth that lays the foundation for other things. In September, Loginext raised a $10 million series A round from Paytm, Roadrunnr raised $11 million and there are a bunch of other startups in the delivery and logistics space.