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Hyperlocal delivery startup Opinio raises $1.6M from Accel Partners

By Disha Sharma

  • 29 Jul 2015
Hyperlocal delivery startup Opinio raises $1.6M from Accel Partners
VCCircle_Opinio

Bangalore-based hyperlocal delivery startup Opinio has raised nearly $1.6 million from Accel Partners.

It had earlier secured seed funding from Accel and incubator Tracxn Labs in April, as reported by The Economic Times. It is looking to close Series A funding by August.

The company is founded in January 2015 by IIT Kanpur alumni Mayank Kumar, who serves as CEO, and Lokesh Jangid, who is CTO. It has 50 employees.

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The startup claims to deliver nearly 1,000 orders a day for over 100 grocers and restaurants. The company employs a technology wherein it stores the geo-coordinates of customers and delivers orders within 20 minutes. It has made an algorithm which determines how many delivery staff should be assigned for a certain number of deliveries to maximise efficiency.

The hyperlocal logistics industry has been seeing a lot of action with a bunch of new players receiving large-scale funding. Bangalore-based Roadrunnr, founded by ex-Flipkart employees, received $11 million in funding from Nexus Ventures, Blume Ventures and Sequoia Capital.

Earlier this month, Grofers, a grocery delivery startup, obtained $35 million. Other players in the logistics field include Delhivery, Townrush and GoJavas. In the delivery technlogy space, Bangalore-based startup Locus, which makes a delivery automation software, obtained seed funding recently.

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