With more and more innovations entering the eCommerce segment, new entrants would need to focus on unexplored innovations to tap the market potential. Hyperlocal delivery along with investment in the logistics department to improve the last-mile delivery will hold the key to success.
Amidst all the hula hoopla around the development in the eCommerce and startup industry, hyperlocal delivery solutions are also garnering a lot of attention. Consumer convenience, habit formation and astute model following plays a pivotal role in any hyperlocal delivery solution provider’s success. The soaring rate of internet penetration, influx of digital payment solutions & increased usage of devices to target audience by geographies will pave the way for more hyperlocal delivery companies. There are only two ways in which the business is channeled – Online and Offline. However, companies are now getting the knack of hybrid marketing via merging online and offline channels to improve delivery. Focusing on these trends, the hyperlocal delivery companies are continuing to roping lucrative funding. Joining the likes of Grofers, Peppertap, Zopper and Swiggy, Opinio has secured a $7 Million funding through investors. The participants in the Series A funding included Delhivery, Sands Capital, and Accel Partners. The funds will used to build Opinio’s technology platform, improve the overall product and expand their operations to other cities. For the ones unaware of Opinio, the startup caters to deliver products from restaurants, grocery stores, bakeries and laundry stores within a 5-7 km radius. Currently prospering in their operations in Bengaluru, Delhi/NCR and Hyderabad, Opinio will be starting in other major cities very soon. The $7 Million funding can be termed as an impressive one for a Startup that initiated their operations just months ago. Currently operating with a strength of 100 employees, Opinio will be soon adding 200 more employees to their operations. Prior to this funding, the startup had earlier raised $1.3 Million from other investors.
Speaking about the development, Abhinav Chaturvedi, vice-president at Accel Partners said, “We see same day delivery becoming the norm going forward. Opinio is building a highly strategic asset in a large MARKET by optimizing the last mile fixed cost.” Mayank Kumar, Co-founder & CEO, Opinio, said, “Our team is innovating on the product and technology every day in a bid to make hyperlocal deliveries more efficient without the need of undercutting on price.” The hyperlocal delivery industry can termed as experiencing a mad gold rush in the last six months. The recent developments have also stirred a competition amongst the VCs. Investors are very keen to go heavy on investments in the segment. And, by the looks of it, many more VCs will step forward to partake in the hyperlocal delivery industry.