Deliveryontime Logistics Private Limited is a reverse logistics solutions company, rather a start-up based out of Bengaluru which is popularly referred to as “Bizlog: value Chain”.
The reverse logistics startup recently announced on 3rd November that it has acquired funding worth Rs. 12 crores in Pre-Series A funding round which was led by the popular investment company- ndian Angel Network (IAN) Fund.
Amongst others that participated in the funding round was Paras Jain, founder of Adishwar- a home appliance retail company from Bengaluru.
When Bizlog was asked about their goal with the newly acquired funds, the company responded by saying that they will further develop and advance their technology, create a strategy to onboard new business verticals from the industry and expand the roots of their business across India over the next couple of years.
Bizlog value chain was founded by E.V. Shunmugam, HS Srinivasan and Krishnan Rajan back in 2016. The reverse logistics company provides services to many well-known corporate companies and start-ups in solving their reverse logistics issues and problems related to managing their returns.
It is easy to talk about the pandemic being the killer of the economy but Bizlog was successful in providing reverse logistics solutions as a work from home job to several big names in the corporate industry.
Announcing the news about Bizlog acquiring new funds, CEO HS Srinivasan said that the business value chain of reverse logistics in India is practically untapped as a business opportunity and that accounts for an approximate market value of USD 13 billion. Having Bizlog tapping into the market with innovative strategies and technical support, it will be able to provide undisputed value to its customers by minimising losses in business and welcoming profitability on the whole with reduced reverse logistics and return management issues. The company will be able to provide an efficient customer experience and add value to the supply chain ecosystem of the country.
Having its roots in over 30 Indian cities, Bizlog also offers standard solutions to reverse logistics issues and also tailor-made solutions to address customer problems with maximum efficiency.
IAN Fund, founder partner, Padma Ruparel commented on the news mentioning the issue of e-waste management solutions that will be provided by Bizlog which is the need of the hour in India. IAN Fund is looking forward to what the potentials of the co-founders and the team can do for Bizlog and its customers.