Opinio is the latest hyperlocal delivery startup in India to score funding. The company announced today that it has raised a $7 million Series A from Delhivery, a logistics firm, Sands Capital, and Accel Partners.
Instead of stocking its own inventory, Opinio, which launched in June and now has 100 employees, serves small businesses by making deliveries within a five to seven kilometer radius of their shop. Customers can track the status of their orders through a mobile app.
Co-founder and chief executive officer Mayank Kumar says that Opinio, which currently operates in Bengaluru, Delhi, and Hyderabad, will use its Series A to build its tech platform and hire more employees as it expands into new cities.
If you follow venture funding in India, you know that hyperlocal startups that either deliver from nearby stores or provide last-minute logistics are hot investments right now. Zopper and Pickingo are just a couple of companies in this space that have received backing recently.
Kumar explains that hyperlocal is in demand because it allows customers the instant gratification of receiving orders in about 30 minutes to an hour without having to endure the infamously bad traffic in large Indian cities or visit several stores in search of a specific item.
Kumar identifies Shadowfax, another hyperlocal startup that focuses on providing logistics to small businesses, as Opinio’s closest competitor, but claims that his company offers a “superior technology platform and operational excellence.”