Borzo, a global same-day intracity delivery service for businesses, has acquired NOW, an Indian company providing 90-minutes delivery service.
Following the acquisition, The Netherlands-based Borzo intends to improve its presence in Asia and give more customised delivery choices to its clients.
Meanwhile, as an independent brand, NOW will benefit from Borzo’s knowledge and activities in ten countries, including Brazil, India, Indonesia, Korea, Malaysia, Mexico, the Philippines, Russia, Turkey and Vietnam.
“Joining forces will allow us to rapidly scale up in a market where demand for hyperlocal deliveries is in millions per day,” said Vivek Pandey, Co-Founder and CEO of NOW.
The current management will continue to run NOW, aiming to surpass 5 million deliveries by 2022.
Also read: How same-day and on-demand delivery can add value to e-commerce and retail businesses
Founded in 2012, Borzo is a global delivery service that allows intracity delivery for businesses. Its algorithms optimise multiple concurrent deliveries while considering geographical routes, package contents, couriers, and other factors to ensure same-day delivery.
Borzo recently secured US$60 million in venture financing from Mubadala Investment Company, Flashpoint, AddVenture, and VNV Global, among others.
Launched in 2015, NOW is a B2B commerce platform for micro retailers for product discovery, express delivery and credit. NOW, operating in eight cities, serves restaurant and drugstore chains, aggregators, e-commerce, and direct-to-consumer companies with upfront pricing at the time of placing and real-time delivery tracking for clients and recipients.
With a fleet of over 1,500 riders, NOW claims to have close to 2 million orders every year for KFC, Pizza Hut, Apollo Pharmacies, Amazon, and various other businesses.
According to the “B2B Marketplace India” report, Indian B2B startups account for 43 per cent of all unicorns in India.
Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.
Image Credit: Borzo
The post Borzo acquires Indian delivery service NOW to strengthen its position in APAC appeared first on e27.