Kartha Techno Logistics Pvt. Ltd, which runs hyper-local logistics platform VDeliver, has raised an undisclosed amount of funding in its pre-Series A round from Hyderabad-based Corvus Ventures, Mumbai-based MAPE Advisory Group, Sify co-founder R Ramaraj and Microsoft India corporate vice president Anil Bhansali.
“This investment will help us strengthen our offerings without compromising on unit economics and efficiency,” Srinivas Madhavam, founder and CEO of VDeliver, said in a statement.
Founded in April 2011 by Madhavam, who was joined by A S K Chaitanya Reddy in 2014, VDeliver fulfils intra-city deliveries across segments including medicines, surgical items, packaged foods, detox juices, gifts and business documents. Its clients include 1mg and CallHealth, among others. It is currently operational in Hyderabad and Chennai and is planning to expand to other cities.
The startup graduated from GenNext Hub which is run by Reliance Industries’ GenNext Ventures and Microsoft Ventures. It is also backed by Startup Leadership Program, a global programme for chief executives of startups.
The Hyderabad-based firm had raised an undisclosed amount in January this year from Hyderabad-based KLCP Holdings and Australia-based Boss Consulting.
Recently, a number of transactions took place in the logistics tech segment. In June, HyperTrack Inc, a US- and India-based startup which helps businesses track products in real time, raised an undisclosed amount in a Series A round led by Nexus Venture Partners and Founders Fund.
In the same month, Mumbai-based Grab a Grub Services Pvt. Ltd, which operates hyperlocal delivery services platform Grab, received funds from Aramex Ventures LLC.
In May, logistics startup Delhivery Pvt. Ltd raised Rs 200 crore from China’s Fosun International as part of a larger funding round.
Earlier, Bengaluru-based truck network platform 4tigo Network Logistics raised about $10 million in Series A funding from existing investors Accel Partners and Infosys co-founder Nandan Nilekani.