Bengaluru: A New Delhi-based e-Commerce logistics firm, Connect India raises Rs.32 crore from venture capital firm Aavishkaar. The funding will be utilized to launch its commercial operations in 17 States, 150 towns and cities, with 1,500 Connect India Centres in rural and urban markets.
Founded in 2014 by Vijay Mahajan and L R Sridhar, Connect India offers e-Commerce deliveries in regions of rural India. Believing in the power that each individual has to make a difference, the company has carried out an unbeaten trial of e-Commerce deliveries across the rural areas of the country. Today, the firm has also developed a model for entrepreneurs to bring efficient logistics and reverse logistics for different communities.
On the other hand, incorporated in 2001 by Vineet Rai, an innovator in early-stage investing firm, Aavishkaar endeavours to catalyse development in India’s underserved regions, helping the entrepreneurs to construct a sustainable enterprise. Today, the firm direct to assets about Rs.994 crore and invests across various sectors including, agriculture, education, dairy, energy, handicrafts, health, water and sanitation, technology for development, microfinance and financial enclosure.