Opinio, an Indian hyper local delivery startup has secured $7 million in Series A round of funding led by Delhivery, a logistics company, Sands Capital and Accel Partners.
Founded in mid this year, the startup Opinio serves small businesses that includes restaurants, grocery stores, bakeries and laundry stores by offering delivery service in a radius of 5-7kms. Last month, the startup partnered with 500 merchants with 700 pilots in 15 areas of Bengaluru and three areas of Delhi. It was founded by IIT Kanpur alumni Mayank Kumar and Lokesh Jangid. In the matter of few months, it has grown to 100 plus team and operates in Bangalore, Delhi/NCR, Hyderabad. Now, the startup claims to witness a 30% week on week growth.
“We are laser-focussed on solving this problem the right way with the help of technology and product innovation and not undercutting price. We will be closely working with supply side partners to leverage their existing infrastructure to deliver top-notch service at reduced costs” said Mayank Kumar.
With the fresh funds, Opinio plans to expand in various other cities, improve their technology platform and strengthen their product portfolio. It also plans to strengthen its team to 200 from 100 with new hires. Abhinav Chaturvedi, vice president at Accel Partners said, “We see same-day delivery becoming the norm going forward. Opinio is building a highly strategic asset in a large market by optimising the last-mile fixed cost. In a short time, the team has executed well and become a top player in last-minute delivery space in India.”
This is not the first funding for the startup, Before this, Opinio raised $1.3 million from Accel Partners and Tracxn Labs in the matter of just seven weeks of starting operations in July.