In addition to angel investors Ashneer Grover (BharatPe), Kunal Shah (CRED), Peyush Bansal (Lenskart), Prashant Pitti (EaseMyTrip), and Aakash Anand (Bella Vita Organic), same-day delivery platform Zippee announced on Wednesday that it had raised $1.6 million in a new funding round from New Delhi-based Haldiram Products Pvt Ltd. Venture capital firms including FounderBank Capital, PiperSerica, and Misfits Fund also took part in the round.
The Gurgaon-based business, formerly known as ZFW Dark Stores, has previously secured $1.7 million from a number of start-up founders, South Asia Tech Partners, and US logistics fund Riso Capital.
Madhav Kasturia launched Zippee in 2021; it provides same-day delivery through the companies’ own websites for direct-to-consumer businesses. The Face Shop, Epigamia, Clinikally, Power Gummies, Anveshan, SEPOY&CO, and Haagen Daaz are just a few of the companies it has collaborated with. The Zippee network of 170 dark shops in India allows brands to connect their online stores to its e-commerce fulfilment infrastructure and begin same-day deliveries.
“Brands report increases in online conversions & repeat business of up to 95% when same-day deliveries are incorporated into their customer journeys. Today, SDD is something that every forward-thinking D2C business in India wants for their clients, but they lack the infrastructure, technology, and resources to make it happen. The solution to it is Zippee, according to Kasturia, who released a statement. In addition to Delhi, Bengaluru, Mumbai, Pune, and Hyderabad, the firm has dark stores in all major metropolises.
The funding would be used by Zippee to boost recruiting, develop its technological foundation, and extend same-day delivery to 15 locations, the company said.
According to projections from Avendus Capital, the investment banking division of financial services company Avendus Group, direct-to-consumer (D2C) businesses may be looking at a $100 billion addressable consumer market in India by 2025.