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Sequoia, Nexus, Blume in $11m Series A for India's RoadRunnr

  • Holden Mann
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Indian business to business (B2B) delivery logistics service RoadRunnr has raised $11 million in Series A funding from Sequoia Capital, Nexus Venture Partners and Blume Ventures.

RoadRunnr provides delivery services for business customers including online and offline retailers and restaurants. Clients can use an app to order deliveries, which are processed through a network of smartphone-connected couriers to find the closest one.

According to VC Circle, the company, which is based in Bangalore and has recently launched its service in Delhi and Mumbai, plans to use the funding to expand across India by improving its technology platform, growing its delivery fleet and adding more merchant partners.

RoadRunnr was founded earlier this year by former Flipkart employees Mohit Kumar and Arpit Dave. It has already raised a seed round from Nexus and Blume. Unlike competitors such as Mumbai-based Grab, which raised $1 million in April from Oliphans Capital and independent investor Haresh Chawla, RoadRunnr charges no commission, instead charging a flat fee per distance travelled.

Sequoia has shown considerable interest in India's hyperlocal logistics sector, having participated with Tiger Global in a $35 million round for grocery app Grofers and led a INR350 million round for logistics marketplace Porter with Kae Capital. The firm is currently investing out of its Capital India IV fund, which closed at $530 million in 2014.

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