India delivery start-up Opinio gets $7m Series A round
Opinio, a hyperlocal delivery start-up based in India, has raised $7 million in a Series A round led by Indian logistics firm Delhivery. Sands Capital Ventures and existing investor Accel Partners also participated.
The company will use the new capital to build its technology platform, add more cities to its coverage area, and expand its product offerings. Sahil Barura, the CEO of Delhivery, has also joined Opinio's board, according to a story from The Economic Times posted on Opinio's website.
Opinio, which was founded this June, delivers goods from local businesses in the three cities where it currently operates. Customers can order through the company's app, which also links merchants with the nearest delivery driver and delivers real-time updates on the delivery status. As of last month the company had partnered with 500 merchants.
Hyperlocal delivery services, which allow customers to avoid traffic jams and the inconvenience of visiting multiple stores for their daily shopping, are growing in popularity in India. Several start-ups in this space have raised VC funding, including Delhivery itself, which received $85 million in a Series D round led by Tiger Global this May. Multiples Asset Management, Nexus Venture Partners and Times Internet have also invested in the company.
In July, Opinio raised a $1.3 million round from Accel and other investors, including Tracxn, a data analytics firm that tracks start-ups in India and that has itself recently received a $3.5 million Series A round from SAIF Partners.
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