Photo credit: Ricecracker.
One man’s trash is another man’s treasure. With ecommerce sites taking major losses, investors are eying the country’s massive logistics sector in the hopes that making it easier to move things around will usher in an era of profitability.
Xpressbees
Ecommerce logistics provider Xpressbees raised a round of US$12.5 million led by existing investors today, including SAIF Partners, IDG Ventures India, and Vertex Ventures.
Founded by Supam Maheshwari and Amitava Saha, the startup was incubated by Firstcry, a baby and maternity products retailer and launched in September 2015. Today, it’s present in over 200 cities and claims to complete more than 100,000 orders a day.
Jaypore
Photo credit: Aleksey Gnilenkov.
Jaypore, an ecommerce site for Indian clothing, jewelry, and home decor, raised US$5 million in a series A round of funding from social investor Aavishkar.
Jaypore’s biggest competition in the sector is Sequoia-backed Craftsvilla, an Esty-esque ecommerce site that has had rumors circulating about it going public.
See: Indian handicraft ecommerce site scores $34m in funding, possible IPO on the way
Finance Buddha
Fintech startup Finance Buddha has raised an undisclosed amount of funding from the Chennai Angels. Users can research and apply for loans directly with banks on the website. The pre-series A round will be used to develop its tech platform.
FinBud – as it’s fondly known – is another in a new wave of startups helping banks do their jobs better.
Converted from Indian rupees. US$1 = INR 68.52
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