Craftsvilla has acquired Mumbai based virtual logistics startup Sendd for $5 million in an equity deal.
The virtual logistics company, Sendd, founded by former IITB students, Nav Agarwal, Sumeet Wadhwa and Sargun Singh Gulati is over a year old and caters to clients nationally and internationally.
The customers can open the app, click a photo of the parcel and schedule the pick up, said the company.
Manoj Gupta founder of Craftsvilla, said, “All e-commerce companies have their own logistics companies. We dont believe that it is capital efficient to go that way. Our vision is to make Sendd one of the largest virtual logistics companies, which will power reach and efficiency for us.”
Earlier in this fiscal, close on the heels of securing $34 million in Series C funding led by Sequoia India and Lightspeed Venture Partners, Craftsvilla had announced that it is open to acquiring companies in the data sciences, ayurvedic products and yogaware space.
Craftsvilla has also appointed Manish Kalra as its Chief Business Officer. In his previous role, Kalra was the Director of Integrated Marketing at Amazon India and built amazon brands like Amazon.in, Junglee.com and Kindle. [source]
You can read the Craftsvilla story here.
