Snapdeal invests $20mn in logistics firm Gojavas
07 Oct 2015
In line with its efforts to strengthen its supply chain and logistics, India's largest online marketplace Snapdeal has invested $20 million in Gojavas, a third-party logistics player.
This is the second round of investment made by Snapdeal in the company. Snapdeal had made its first investment in the firm in March 2015.
The investment in gojavas is in line with Snapdeal and Gojavas's strategic partnership signed earlier this year to build capacities for the future and strengthen the supply chain ecosystem.
''Our partnership with gojavas has been tremendously successful. Gojavas is one of our best performing last mile logistics partners. The company's average timeline for delivering Snapdeal orders has reduced by a full 24 hours in the last 6 months and our teams have worked closely to come up with highly innovative solutions that are further enhancing customers' shopping experience on Snapdeal,'' said Rohit Bansal, co-founder at Snapdeal.
''With the freshly infused funds, our aim is to help gojavas become more successful and further expand their reach. Our teams will continue to work together closely in the future as well,'' he added.
Snapdeal has been working for the last 8-10 months to strengthen its supply chain and logistics. The company has invested $100 million in the last six months to improve it delivery timelines by 70 per cent.
It will invest an additional $200 million in the next 12 months to further strengthen its supply chain. The partnership between Snapdeal and gojavas has proved to be mutually beneficial. The companies have worked together to build capacity and expand reach.
At present, Gojavas delivers in 350 cities up from 150 cities. Further, the Snapdeal and Gojavas teams have worked together to come up with innovative last mile solutions like card-on-delivery, 90 minutes reverse pick up and four-hour delivery services and have set new benchmarks in the industry in supply chain and logistics.