VC Grid leads $1 Million Seed Round For Pikndel
The funding round saw participation from several investors, including D2C Insider Angels, Breathe Capital, Venture Catalysts and industry leaders as well
VC Grid, a syndicate fund, today notified its participation in a USD 1 million seed funding round for Pikndel, a logistics technology company transforming quick commerce delivery solutions for direct-to-consumer (D2C) and ecommerce brands. The funding round saw participation from several notable investors, including D2C Insider Angels, Breathe Capital, Venture Catalysts and industry leaders as well.
Pikndel’s approach enables brands to offer multiple delivery options ranging from one-hour to next-day delivery, significantly enhancing customer experience while maintaining operational efficiency. The founding team brings together complementary expertise critical for success in the logistics technology sector.
“Their (Pikndel's) shared dark store model not only makes quick commerce accessible to a broader range of brands but also ensures operational efficiency and scalability. With the quick commerce market expected to reach USD 10 billion by 2029, we are confident that Pikndel is strategically positioned to play a pivotal role in driving this growth,” stated, Vansh Oberoi, Managing Partner, VCGrid while commenting on the investment.
Pikndel operates in a rapidly expanding market, with quick commerce alone expected to reach $10 billion by 2029. The company's shared dark store model meets a crucial demand in India's expanding ecommerce and D2C sector, where brands are increasingly looking for efficient, cost-effective solutions to enable fast deliver.
“Today's fast-paced business environment has transformed consumer expectations - speed is now paramount. Even with consistent SLAs, brands are seeing a surge in customer complaints about Tat, underscoring the growing demand for quicker, more efficient deliveries. To keep up with the fast-paced demands of quick commerce, setting up individual dark stores will fail to deliver the expected ROI for brands. That's where Pikndel steps in. With our expansive network of shared dark stores and agile last-mile delivery solutions, we empower brands to launch quick-commerce services in less than 72 hours,” stated Siddharth Batra, Founder of PiknDel.
The investment will also support the strengthening of last-mile delivery capabilities and the development of additional service offerings for brand partners.
