Logistics Provider Roadrunnr Raises $11 Million in Tech Push

B2B online platform and service provider for hyper local logistics, Roadrunnr has raised $11 million (roughly Rs. 70 crores) in a first strategic round of funding (Series A) from Sequoia Capital and existing investors Nexus Venture Partners and Blume Ventures.

This investment will help Roadrunnr beef up its technology platform, expand nationally and build a dense delivery network, the company said in a statement.

Bengaluru-based Roadrunnr aims to provide merchants in the country the capability to deliver orders rapidly and on-demand to customers in their locality by connecting them with a supply force using mobile technology.

The company caters to requirements of merchants, restaurants, and e-commerce companies by managing their deliveries in a cost-effective way while adhering to service level agreements.

It partners with students, drivers and others who work with Roadrunnr on a part-time basis, it said.

Roadrunnr follows a different pricing model from other aggregators as they charge merchants a flat fee based on their shipment size rather than the value of the order, the company added.

Roadrunnr started with operations in Bangalore and has extended services to Delhi NCR recently. The company, which now plans to take this model across the country, is piloting its services in Mumbai.

"Having seen on-demand delivery being a clear trend in India driven by the consumer's desire for convenience and quality, we at Roadrunnr are committed to solving the hyper local logistics problem for merchants and online aggregators," Mohit Kumar, Co-founder and Chief Executive, Roadrunnr, said.

"Our services are asset light, involving no hubs or warehouses which allows a flexible model for both merchants and drivers. So far, We have reached about 1,500 orders a day," he added.

The company has previously raised seed funding from Nexus Venture Partners and Blume Ventures.