Wherehouse.io Raises Seed Capital From Better Capital The first round of funding will enable the Delhi-based startup to meet the market demand and help new-age e-tailers drive revenue
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With an aim to disrupt India's vibrant and ever-growing logistics market, Delhi-based startup Wherehouse.io announced on Tuesday to have as raised an undisclosed amount in Seed capital led by Better Capital to build advanced solutions and capabilities for the country's e-commerce industry that is expected to touch $200 billion by 2027.
"We are extremely delighted to share that our investors have shown immense faith in us. Wherehouse.io is built on the core values of control, visibility, and delight, enabling brands to design an end-to-end brand experience while owning the data and customer relationship. With COVID-induced lockdowns in the last few months, each and every brand is looking for a way to build reach and scale. This has resulted in a healthy seller acquisition for us the last four-five months," said Vaibhav Chawla, co-founder, Wherehouse.io.
Started by three professionals, Vaibhav Chawla, Jeevan Prakash, and Lavelesh Sharma, in October 2020, Wherehouse.io helps D2C brands to predict and place inventory across a wide network of flexible warehouses and offer excellent last-mile connectivity to deliver their products to their customers in the shortest possible time. In a short span of time, Wherehouse.io has scaled a network of over 2500 warehouses across 12 cities that helps brands accelerate the customer experience with a simple and yet powerful fulfillment technology platform.
"Customer experience is a core ingredient for success in the D2C category and that's exactly what Wherehouse.io enables for new and growing brands with its on-demand warehousing and fulfillment platform. We are excited to be founding stage partners with the Wherehouse team as they unlock Amazon-like customer experience for D2C brands in India'', stated Vaibhav Domkundwar, chief executive officer and founder, Better Capital.
Besides Better Capital, the other key investors were Java Capital, Titan Capital (Snapdeal founders), First Cheque, and Upsparks. The first round of funding validates the rapid progress and the significant market opportunity for Wherehouse.io and shall enable it to meet the market demand that would help new age e-tailers drive revenue.
"We at Java Capital are excited to back Wherehouse.io founders. They are building a disruptive solution for D2C brands, with variable capacity micro warehousing. They convert existing local /hyperlocal unused storage capacity into revenue-generating micro warehouses (secured e-commerce ready warehouses) at affordable price points and ensure same day/next day delivery for D2C brands similar to Amazon's next day delivery capabilities. Imagine, AirBnB for warehouses! With faster deliveries! Also, D2C (Direct to Consumer) businesses are at the cusp of growth in India and covid has only created tailwinds for the growing D2C market," remarked Vinod Shankar, co-founder, and partner Java Capital.
"We believed in the innovative approach of Wherehouse in helping D2C brands align their customers in an efficient way. The team has built an amazing business and we look forward to helping them in their journey," added Bipin Shah, partner, Titan Capital.
Driven by proprietary technology, the warehouses allow superior quality control and operational procedures that make the experience more personal and delightful for the brands and their end customers. The growth infrastructure scales with the growth of brands and allows them to optimize the efficiency of their supply chain while delivering superior customer experience with presence near the customer cluster, the platform shared.