New Delhi: The same-day delivery startup Blitz has raised $3 million from several investors, including India Quotient, Better Capital, First Cheque, Titan Capital, and angel investors Farid Ahsan, Abhinav Jain, Rahul Dash, Kunal Shah, Prabhkirandeep Singh, Ishendra Agarwal, Kalpak Chaajed, Arjun Vaidya, Gaurav Pushkar, Piyush Kedia, and Anshoo Sharma. The business declared that it would use the money to build out its network of dark stores and improve technology infrastructure.
Blitz, an online marketplace founded in 2021 by Gaurav Piyush, Yash Sharma, and Mayank Varshney, guarantees same-day delivery to vendors who place their orders before 3 o’clock. In Blitz’z dark storefronts, vendors may anticipate demand, keep inventory close to their customers, provide buyers with 4-hour delivery, and complete all purchases the same day.
“Faster delivery and efficient inventory placement enable sellers with higher customer satisfaction, lower RTO%, faster realization of capital, faster feedback, and reduced logistics cost,” the company said.
“With simple-to-use products and high levels of operational excellence, we enable enterprises and medium-size brands with the ability to orchestrate faster deliveries at efficient costs – providing their management and logistics team with visibility and higher controls,” said Mayank Varshney, Co-founder & CEO, Blitz.
“The e-commerce logistics industry has not evolved in the last 10 years to meet the needs of omnichannel brands, although consumers and businesses have both evolved. There is a need to merge prediction sciences and smart logistics networks to meet the 24-hour delivery expectation with logistics as an extension of the CAC funnel. Blitz is a fabulous solution and a great team” Anand Lunia, Partner at IndiaQuotient said.
According to a report released, India’s e-commerce logistics market is on course to reach 10 billion shipments by FY28 at a compound annual growth rate of 20%. In FY23, the segment’s overall shipments reached 4 billion.