snapdeal funds vulcan express

Snapdeal Infuses $23.7 Million in Logistics Arm Vulcan Express

snapdeal funds vulcan express

07 September 2017, India:

Snapdeal has infused money in logistics arm Vulcan Express yet again. As per the report by VCCircle, Snapdeal invested $23.7 Million in Vulcan Express.

Earlier last month, one of the leading e-commerce marketplace Snapdeal invested $5.7 Million in Vulcan Express. It was reported that TVS Logistics, Gati, and Peepul Capital were keen to acquire the logistic arm of Snapdeal- Vulcan Express during the saga of Flipkart-Snapdeal merger. Gati is one of India’s largest express distribution and supply-chain companies, whereas Peepul Capital is a mid-market private equity firm and TVS Logistics is a supply chain player.

Related read- Ordered on Flipkart, Snapdeal? Chances are, Amazon Might Deliver it to You!

Vulcan Express Private Limited is a logistics firm that offers end-to-end logistics and supply chain solutions for retail companies with a greater focus on highly dynamic and rapidly growing e-commerce industry in India. It offers a range of services including Pickup, Consolidation and Fulfilment Operations, Warehousing Solutions, Intercity Movement, and Last Mile Delivery services. The team has more than 100+ years of collective experience in the logistics industry. As per RoC filings, Vulcan Express raised the amount against the allocation of 15.24 crore equity shares at Rs 10 apiece to Jasper Infotech Pvt. Ltd, which operates Snapdeal.

Meanwhile, Jeff Bezos-led Amazon is expanding its logistics business in India by offering the service to its registered sellers even if orders are placed through rival marketplaces like Flipkart and Snapdeal or for their offline distribution. Snapdeal is all set to rise once again with Snapdeal 2.0 after Snapdeal-Flipkart failed to come to an agreement for the merger. The company plans to lay off 1,000 employees, that is equal to 80% of the total workforce. Kunal Bahl and Rohit Bansal have firmly instructed their business and technical heads to restructure their teams and begin the paperwork for their layoff.

Also read- GoFro Raises $10 Million Funding from Japanese travel company HIS Co Ltd.