Blitz, formerly known as Grow Simplee, has successfully raised Rs 51 crore in its Series A funding round, with IvyCap Ventures taking the lead. This round also saw participation from returning investors, India Quotient and Alteria Capital, along with a group of influential angel investors. Notable backers include Ramesh Bafna of Zepto, Siddharth from Snitch, Bestseller CEO Vinit Gautam, and Arvind Fashion CEO Amitabh Suri, among others.
Previously, in July of the previous year, Blitz secured $3 million in seed funding from India Quotient, Better Capital, First Cheque, and Titan Capital.
The funds raised will be utilized to bolster its 60-minute delivery infrastructure and further expand its network of dark stores in 20 major cities across India.
Founded in 2020 by Gaurav Piyush, Mayank Varshney, and Yash Sharma, Blitz is a platform offering rapid deliveries within 60 minutes from local stores and same-day shipments from urban warehouses. Their dark store model is set to revolutionize logistics for e-commerce businesses seeking fast, dependable deliveries.
Blitz enables sellers to store inventory in its strategically located dark stores, facilitating 4-hour delivery windows to customers and ensuring same-day order fulfillment.
The company has helped its clients achieve a 29% growth in business while reducing Return-to-Origin (RTO) rates by 40%. Blitz operates in 10 cities, including Bengaluru, Delhi NCR, Mumbai, Hyderabad, Jaipur, Chandigarh, and Pune.