/viestories/media/media_files/2024/11/20/jUDPZb2oSey4akeDuWAU.png)
IvyCap Ventures led the Rs 40 crore Series A round for Blitz (formerly Grow Simplee), a same-day delivery platform for multichannel businesses.
Current shareholders Along with current angel investors, the round also included India Quotient and Alteria Capital, as well as prominent angels like Siddharth from Snitch, Bestseller CEO Vinit Gautam, Amitabh Suri CEO Arvind Fashion, and Ramesh Bafna of Zepto.
Read Also - Billion Hearts has Raised $4 Million in Seed Funding
Blitz received $3 million in its seed round earlier in July of last year from Titan Capital, Better Capital, First Cheque, and India Quotient.
Funding Utilisation
The money raised will be used to expand its network of dark stores throughout India's top 20 cities and improve its 60-minute delivery system.
Blitz, which was founded in 2020 by Gaurav Piyush, Mayank Varshney, and Yash Sharma, links companies and customers with same-day shipping from metropolitan warehouses and 60-minute delivery from nearby retailers. Its dark shop approach is expected to develop into a vital logistical tool for e-commerce companies looking to provide dependable, quick delivery.
In Blitz's dark storefronts, vendors may forecast and stock their products close to their clients, provide buyers with 4-hour delivery, and complete all purchases the same day.
The new company says it has helped its clients grow their businesses by 29% and cut Return-to-Origin (RTO) rates by 40%. Among the ten cities where Blitz operates are Bengaluru, Delhi, the National Capital Region, Mumbai, Hyderabad, Jaipur, Chandigarh, and Pune.
About Blitz
Same-Day Delivery Platform to Accelerate Your Ecommerce Sales & Increase Retention by 2x.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
