Hyper local delivery start-up Opinio has raised $7 million in its Series A funding from logistics company Delhivery, Sands Capital, and Accel Partners.
This is not the first funding for the B2B start-up. Before this, Opinio had managed to raise $1.3 million from Accel Partners and Tracxn Labs within seven weeks of starting operations in July this year.
The Bengaluru-based company helps small businesses including restaurants, grocery stores, bakeries and laundry stores to fulfill their demand by offering delivery as a service. As of last month, the startup was in collaboration with 500 merchants having 700 pilots in 15 areas of Bengaluru and three areas of Delhi.
Opinio plans to utilize the funds to expand to multiple cities, hire staff and strengthen its product portfolio and technology platform over the next six months.
Opinio was launched in January this year by IIT Kanpur alumni Mayank Kumar, who serves as CEO, and Lokesh Jangid, who is CTO.
Twenty Six-year-old CEO and co-founder, Kumar explains that hyperlocal is in demand because it allows customers the instant gratification of receiving orders in about 30 minutes to an hour without having to endure traffic in large Indian cities or visit several stores in search of a specific item.
The firm currently has 1,500 delivery executives and claims to deliver nearly 10,000 orders a day for more than 100 grocers and restaurants.
Talking about the latest round of funding, 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 optimizing the last-mile fixed cost. In a short time, the team has executed well and become a top player in last-mile delivery space in India.”
Opinio competes with the likes of Pickingo, Shadowfox, Zopper and Roadrunnr in the delivery segment.