Roadrunnr may secure funds for $10 million from Sequoia Capital and Nexus Venture Partners. Bengaluru based Roadrunnr was founded in February 2015, by former employees of Flipkart Mohit Kumar and Arpit Dave. The company is focused on business to business deliveries and they are into hyper local delivery. The company uses on demand model to partner with delivery boys and manage lean and peak demand. They charge a flat rate per delivery of the products.
Roadrunnr is serving 150+ order per day and has 150 vendors. Some of the vendors are virtual in nature like Brekkie, PizzaStop, bhukkad, Chefensa, Calvin’s, GrabEat, delivery aggregator Eatlo, food technology company Faaso. The company is in negotiations with several prospective clients for inclusion. They launched their services in Gurgaon last week.
Mohit Kumar is the co founder and Chief Executive Officer of Roadrunnr. He graduated in Bachelor of Engineering in Computer Science from PES University in 2010. Mohit Kumar started his career as Lead Engineer in HolidayIQ in October 2010. After 26 months of services he became Senior Product Manager in Ola. He was responsible for building a robust taxi dispatch infrastructure and built apps for drivers. He worked with Ola for 13 months till November 2013.
Arpit Dave is co founder at Roadrunnr. He graduated in Bachelor of Technology in Mechanical Engineering from Indian Institute of Technology, Kharagpur in 2013. He started to work even before completion of his graduation. He has worked in several organizations in various capacities such as interns, co ordinator and Assistant Manager in student cell of the IIT.
In 2013 he joined Flipkart as Business Analyst. He was part of product management team. He developed various seller platform products that feature listing management user interface, Product user interface, Brand Registry, Automated Quality Check. He worked on setting up large seller enablement team which were analytical and scalable. He quit Flipkart to start Roadrunnr in February 2015.
Roadrunnr received seed funding form Nexus Venture Partners and Blume Ventures and in talks with Nexus Venture Partners and Sequoia Capital for next round of funding. The demand for hyper local delivery is on rise since B2B delivery startups are on rise with the advent of technology.
Roadrunnr has to compete with Grofers, Delyver in some markets like New Delhi, Mumbai and Bengaluru. Grofers started spreading their segments like pharmacies, groceries and ecommerce and getting higher valuation. Grab is another startup offers hyper local services in the Mumbai region and Quickli in New Delhi. Grab has secured funds of $1 million from Oliphans Capital and they are delivering 2,500+ orders each in Mumbai and Pune. Grab is in talks with several major restaurants. Another major Delhivery has raised Series ‘D’ funding from Nexus Venture Partners.
Industry biggie Ola is all set to launch its own logistics services in few days. They have hired 100 delivery boys who are under training and will concentrate on grocery delivery.
However Roadrunnr is adopting the strategy to deliver products of Sequoia Capital financed companies in the market that includes Faasos and Tinyowl.