The startup was founded in 2012 by the four veterans of the Express Industry of IndiaKrishnan, K Satyanarayana, Manju Dhawan and Sanjeev Saxena.
Delhi-based e-commerce logistics solutions provide, Ecom Express Pvt Ltd, has raised more than Rs 100 crore ($16.5 million) from Peepul Capital, as reported by VCCircle.
“The infusion (of this capital) will go towards strengthening our current reach, expanding operations, investing in technology and automation, attracting key talent and building a healthy flow in working capital,” said TA Krishnan, co-founder and CEO, Ecom Express.
The startup was founded in 2012 by the four veterans of the Express Industry of IndiaKrishnan, K Satyanarayana, Manju Dhawan and Sanjeev Saxena. Ecom Express was started in January 2013 with operations in 35 towns and 42 distribution centres in North India with around 250 employees on board.
Today, the firm employs 3,000 people and has presence in over 100 towns and 190 distribution centres across the country. It now plans to expand to more than 800 locations in five years.
“There is a tremendous opportunity for a dedicated logistics player who can understand and play an enabling role for the e-commerce industry. Ecom Express is strongly positioned to leverage this opportunity given their track record and the experienced leadership team behind the company,” said Srini Vudayagiri, Investment Director, Peepul Capital Advisors told VC Circle.