Company Name : Pickingo
Funding Amount : $1.3mn
Investor(s) Orios Venture Partners .
Location : Gurgaon
Pickingo, a B2B on-demand hyperlocal logistics start-up announced that it has raised $1.3m led by Rehan Yar Khan of Orios Venture Partners along with participation from Zishaan Hayath, both early investors in Ola Cabs among other ventures.
Gurgaon based Pickingo, started by a team of IIT-IIM graduates in December 2014, aims to disrupt the way goods move within a city from the merchant to the end consumer.
The company which started in December 2014 doing reverse-pickups for large e-commerce players such as Jabong, Snapdeal, Shopclues and Paytm across 6 cities has seen significant merchant adoption in hyperlocal logistics. More than 300 restaurants, groceries and pharmacies have signed up for their on demand delivery service including some large hyperlocal startups. The company intends to expand to more than 20 cities by the end of the year.
Rahul Gill, CEO says “Its a very exciting space right now. Huge supply and demand are present in different planes of cost, time and geography, we just need to match them using technology to unlock a large number of transactions.”