This Startup Gains USD 4.5 Million Funding From Mayfield India II

his Startup Gains USD 4.5 Million Funding From Mayfield India II_insights_success

Emiza Inc, which is a fresh enterprise in supply chain management and logistics, has attained USD 4.5 million (INR 30 Cr) in the latest round of funding, led by the venture capitalist firm Mayfield, US.

The startup plans to acquire talent for its senior leadership team and enhance its technological base with the help of the infused funds.

The funding round also saw participation from Dileep Nath, MD Aaroha Pte. Ltd. and Nishant Rao, Global COO at Freshdesk & Chairman, IAMAI. The investment has been expedited by Mayfield’s India- focussed fund, Mayfield India II.

Vikram Godse, Managing Partner, Mayfield Advisors LLP says, “Primary distribution, as well as last-mile logistics, is a well-funded space in India. However, there is an absence of an established player to connect the dots between these two spaces. By providing a tech-driven, one-stop, logistics solution combined with a hub-and-spoke warehousing model which drives costs lower, Emiza’s offering is going to be a big painkiller for its customers,” while commenting on the investment.

The Mumbai based startup was launched in 2015 by Ajay Rao and Rajesh Sharma. Emiza provides logistics services to small towns and cities. It specializes in multichannel and omnichannel management and asserts to fulfill orders from store inventory or just-in-time model of product procurement, while providing an integrated warehousing platform to clients.

Recently, in March 2017, Rivigo raised about USD 15 Mn (INR 100 Cr) debt finance from undisclosed lending private sector banks. Earlier in November 2016, Gurugram-based logistic platform raised USD 75 Mn from an affiliate of Warburg Pincus, a leading global private equity firm focussed on growth investing. A Bengaluru-based logistics management startup, Locus, has achieved USD 2.75 Mn (INR 18.3 Cr) in Series ‘A’ funding led by Exfinity Venture Partners in May 2016.

Delhivery, a Delhi-based ecommerce logistics company, also raised USD100 Million in funding from US-based investment fund Carlyle Asia Partners, with contribution from investor Tiger Global, in March this year.

Ahmedabad-based logistics IoT startup Locanix, Bengaluru-based B2B logistics startup BlackBuck, etc. are some examples of other startups operating in the similar space.