Snapdeal has invested an additional USD 20 million (about Rs 131 crore) in logistics and delivery services venture GoJavas, the New Delhi-headquartered company announced today.The latest fund infusion is the second such for Snapdeal in GoJavas, and comes seven months after the e-commerce marketplace announced an undisclosed strategic investment in the Gurgaon-based third-party logistics services provider in March earlier this year.”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,” Snapdeal Co-founder and Chief Operating Officer Rohit Bansal said in an official release.
The funds will be used by GoJavas to expand its footprint to include 100 more cities within the next 6-12 months, according to the press statement. The company, which reported revenue of about Rs 200 crore for the last fiscal, claims to reach consumers spread across 350 cities and towns in 3,000-plus pin codes.Over the last six months, Snapdeal has invested $100 million to improve it delivery timelines by 70 per cent; the company plans to invest an additional $200 million in the next 12 months to further strengthen its supply chain.
Gojavas, which delivers over 1.8 lakh packages every day, said the partnership with Snapdeal helped it become one the largest independent logistics players in the country. Gojavas posted revenues of over Rs 200 crore in 2014-15 fiscal year.
Despite the clarification, the beleaguered e-commerce firm has shutdown marketplace Shopo in February after a year-and-a-half of operations
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