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Blitz raises Rs 51 Cr in Series A round led by IvyCap Ventures

EntrackrEntrackr ยท 9m ago
Blitz raises Rs 51 Cr in Series A round led by IvyCap Ventures
Medial

Blitz (previously Grow Simplee), a same-day delivery platform for omnichannel sellers, has raised Rs 51 crore in its Series A round led by IvyCap Ventures. Existing investors India Quotient and Alteria capital along with notable angels, including Ramesh Bafna of Zepto, Siddharth from Snitch, and Bestseller CEO Vinit Gautam, Amitabh Suri CEO Arvind Fashion have also participated in the round along with existing angel investors. Earlier in July last year, Blitz had raised $3 million in its seed round from India Quotient, Better Capital, First Cheque, and Titan Capital. The proceeds will be used to enhance its 60-minute delivery infrastructure and expand its dark store network across Indiaโ€™s major 20 cities. Founded in 2020 by Gaurav Piyush, Mayank Varshney, and Yash Sharma, Blitz connects brands and consumers with 60-minute deliveries from local stores and same-day shipments from urban warehouses. Its dark store model is set to become a key logistics asset for e-commerce players aiming to offer fast, reliable deliveries. Sellers can predict and store inventory near their customers in Blitzโ€™s dark stores, offer 4-hour delivery to buyers, and fulfill all orders on the same day. The startup claims to have helped its clients with a 29% increase in business growth while reducing Return-to-Origin (RTO) rates by 40%. Blitz is operational in 10 cities including Bengaluru, Delhi, NCR, Mumbai, Hyderabad, Jaipur, Chandigarh, and Pune.

PlatinumRx raises $800K funding led by IndiaQuotient

EntrackrEntrackr ยท 1y ago
PlatinumRx raises $800K funding led by IndiaQuotient
Medial

Healthcare startup PlatinumRx has raised $800,000 in a seed round from India Quotient, along with participation from several prominent angel investors. PlatinumRx plans to utilize the funds to augment its warehousing and distribution network, enhancing its presence across the country and increasing its product offerings, the company said in a press release. Founded by Ashutosh Pandey and Piyush Kumar, PlatinumRx aims to redefine the way chronic patients access essential medications by curating and offering substitutes from top brands like Cipla, Abbott, Alkem, etc. PlatinumRx helps consumers find the exact substitute medicine having the same salt, same strength, and same effectiveness. PlatinumRx delivers to more than 20,000 pincodes within 2-3 days and providing same-day delivery in Bengaluru. It has also partnered with multiple old age homes and rehab centers across the electronic city. โ€œWith rising diabetes and blood pressure-related ailments, coupled with soaring monthly medicine expenses, cost reduction for all chronic illnesses without compromising efficacy is crucial,โ€ said Gagan Goyal, General Partner at India Quotient. Launched by Anand Lunia and Madhukar Sinha in 2012, India Quotient launched its fourth fund worth $80 million in February 2021. Its portfolio companies include WebEngage, Dhiwise, Vyapar, Pagarbook, Fleetx, Powerplay, Brands.live, and GoComet among others.

Amazon boosts investment in speed for faster deliveries across multiple products

LivemintLivemint ยท 11m ago
Amazon boosts investment in speed for faster deliveries across multiple products
Medial

Amazon India is investing in improving delivery speed to meet the shift in consumer preferences for faster delivery. The company aims to offer same-day and sub same-day deliveries, with products being delivered within 4-6 hours of purchase. This investment in speed is being driven by the demand for quicker delivery times, as consumers increasingly want their purchases to be delivered within hours instead of days. Amazon India is expanding its sub same-day delivery feature in metro cities, with hundreds of thousands of products available for quick delivery. The company is also planning to offer quick commerce deliveries in response to the growing demand for faster delivery options. Amazon India recently opened three new fulfillment centers in Delhi-NCR, Guwahati, and Patna to enhance delivery speeds during the upcoming festive season. The company expects to break last year's record for its annual festive season sale, the Amazon Great Indian Festival.

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