VDeliver, an intra-city logistics company, has raised an undisclosed Pre-Series A investment led by Corvus Ventures and other investors.
Mumbai-based MAPE Advisory Group, Sify co-founder R. Ramaraj, and Microsoft Corporate Vice President Anil Bhansali have also invested in VDeliver in their personal capacity.
Vdeliver intends to use the funds raised to develop new products and services and to strengthen the company’s existing portfolio.
Among the country's early startups in the technology-driven logistics space, VDeliver currently fulfils intra-city deliveries across segments.
"For several businesses, getting deliveries right is essential. We believe the strong understanding of business operations and technology that VDeliver brings will help it become an indispensable partner to companies looking to optimise their delivery function," said lead investor, Mahesh Reddy of Corvus Ventures.
As a market leader in Hyderabad and with a strong presence in Chennai, VDeliver will soon be expanding its operations to other large cities.
It caters to clients in healthcare, medical and surgical equipment, gifts, office supplies, packaged food, juices, and business documents.
"This investment will help us further strengthen our portfolio of innovative offerings, without compromising on unit economics and efficiency," said its founder and CEO Srinivas Madhavam.
VDeliver also provides last-mile delivery services with a focus on speed and efficiency.
It recently started a service Staytions that allows customers to receive parcels just by scanning the product’s QR code. Through Staytions, users can place a request for delivery and pickup. The idea is to make the task of pickup and delivery requests less time-consuming.
The company is a beneficiary of Reliance’s GenNext Hub, a start-up accelerator programme assisting firms in scaling up.