Pickingo, a B2B on-demand hyperlocal logistics startup from Gurgaon, announced that it has raised $1.3 million (roughly Rs. 8.2 crores) in a founding round led by Rehan Yar Khan of Orios Venture Partners along with participation from Zishaan Hayath, an early investor in Ola Cabs and Housing.com, among other ventures. Orios Venture partners has previously made investments in Zo Rooms and Sapience Analytics.
Pickingo aims to disrupt the way goods move within a city from the merchant to the end user, and intends to expand to more than 20 cities by the end of the year.Founded in December 2014, it does reverse-pickups for large e-commerce players such as Jabong, Snapdeal, Shopclues, and Paytm across six cities, and has seen significant merchant adoption.
More than 300 restaurants, groceries, and pharmacies have signed up for its on-demand delivery service including some large hyperlocal startups, the company said. "It's a very exciting space right now. Huge supply and demand are present in different planes of cost, time and geography, we just need to match them using technology to unlock a large number of transactions." said CEO Rahul Gill.
Rehan Yar Khan, founder and partner at Orios Venture Partners said that hyperlocal logistics will be disrupted through on-demand players using an 'uberised' model, referring to its success in China and US. Pickingo will enable reliable and efficient movement of goods from the merchant to the consumer, vice versa and eventually even between consumers, he said.
Pickingo has scaled up in the past four months to more than 100 on-roll employees. It currently services around 3,000 deliveries per day with a fleet of 300 field executives, the company said.