Pikndel, a same-day delivery platform, has successfully secured $285K in funding during a pre-seed round led by 100X.VC. The investment round also saw contributions from Anay Ventures, Flawless Company, Shavdia Ventures, and Pradeep Desu.
The company, established in 2022 by Teja Vadlamani, Siddharth Batra, and Tullika Batra, specializes in providing rapid delivery services for both direct-to-consumer and e-commerce brands.
Pikndel offers a unique service where sellers can store their products in shared dark stores. These facilities enable flexible delivery schedules, spanning from four hours to same-day services directly from Pikndel’s warehouses.
Pikndel intends to utilize the newly acquired funds to fuel its expansion plans across India. Presently, the company operates in Delhi NCR, Mumbai, and Bengaluru, offering same-day delivery services through its dark stores.
100X.VC, leading the investment charge, stands as India’s pioneering Venture Capital Fund employing iSAFE (India Simple Agreement for Future Equity) Notes for early-stage startup investments.
Teja Vadlamani, Co-Founder and Chief Business Officer, Pikndel, said,
“We take pride in being the fastest-growing quick commerce delivery partner. The investment received will be pivotal in our expansion plans as we intend to have a robust pan-India presence, making same-day deliveries a ubiquitous option for our customers. We are grateful to 100X.VC and other investors for their support and are bracing for progressive times ahead.”
As a SEBI Registered CAT I AIF and Investment Adviser, 100X.VC marks itself as the primary institutional investor in its portfolio companies.
The firm has made investments in over 140 startups, facilitating upwards of ~$72 million in funding from various sources, including VC funds, HNIs, Angel Networks, and Family Offices.
Pikndel’s Delhi headquarters house an all-inclusive suite of solutions designed to optimize e-commerce operations. With the latest funding injection, the company is set to intensify its reach and impact in the rapidly evolving e-commerce delivery landscape, aiming to provide swift and efficient services to a wider consumer base across India.