Same-day delivery service startup Pikndel raises $285K led by 100X.VC

Pikndel, a startup operating a same-day delivery service platform, recently raised $285,000 in a pre-seed funding round led by 100X.VC. The round also saw participation from Anay Ventures, Flawless Company, Shavdia Ventures, and Pradeep Desu.

Specializing in same-day delivery services

Founded in 2022 by Teja Vadlamani, Siddharth Batra, and Tullika Batra, Pikndel aims to revolutionize the direct-to-consumer and e-commerce sectors with its efficient delivery services.

The startup specializes in same-day deliveries, offering a range of flexible delivery timelines, including a rapid four-hour service. Pikndel operates using a network of shared dark stores, which also provide storage solutions for sellers.

Focusing on presence expansion

According to the startup, The raised capital would be used to expand its operations across India. Currently operational in Delhi NCR, Mumbai, and Bengaluru, Pikndel aims to establish a robust pan-India presence. The expansion is expected to make same-day deliveries a standard option for customers throughout the country.

Commenting on the funding, Teja Vadlamani, co-founder of Pikndel in a statement said, “The investment received will be pivotal in our expansion plans as we intend to have a robust pan-India presence, making same-day deliveries a ubiquitous option for our customers.”

Ninad Karpe, founder at 100X.VC added, “With a team that is passionate about their business and a model that will disrupt the D2C and ecommerce industry, Pikndel is poised to make significant strides in the burgeoning quick delivery space.”

The need for same-day delivery

The e-commerce industry has significantly altered the buying and selling process. With the increasing population density, urbanization, smartphone and internet usage, and the introduction of online payment methods, the e-commerce market is expanding swiftly. For instance, the Indian e-commerce GMV recorded $8.3 billion during the 2020 festive season, a 66% increase from the previous year.

Following the growth, The demand for same-day delivery is also rising as customers increasingly expect quick and convenient shipping options when shopping online. The demand is driven by the desire for instant gratification and the convenience of online shopping combined with the immediacy of store purchases.

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