Orios invests in Pickingo, a hyperlocal logistics startup

MUMBAI: Gurgaon-based on-demand, hyperlocal logistics startup Pickingo has raised $1.3 million led by Rehan Yar Khan's Orios Venture Partners with participation fromentrepreneur and angel investor Zishaan Hayath. Hayath and Khan were both early investors in taxi aggregator firm Ola. Pickingo, founded by a team of IIT-IIM graduates last year in December says it aims to disrupt the way goods move within a city from the merchant to the end consumer. Catering to the logistics demand of businesses and merchants, other players in the category like RoadRunnr announced an $11 million Series Afunding from Sequoia Capital, Nexus Venture Partners andBlume Ventures recently Stock Market Tips  

Pickingo started off doing reverse-pickups for large e-commerce players such as Jabong,Snapdeal, Shopclues and PayTm. More than 300 restaurants, groceries and pharmacies have signed up for our on demand delivery service including some large hyperlocal startups, said Rahul Gill, co-founder & CEO, Pickingo. The company intends to expand to more than 20 cities by the end of the year, he said ,Intraday  Trading Tips 

Khan, partner at Orios Venture Partners said, "Just like in other verticals such as food, grocery, laundry among others, hyperlocal logistics will be disrupted through on-demand. We have already seen this model become a huge success in China with billion dollar players emerging within a year of starting up; and also in the US. Players like Pickingo will enable reliable and efficient movement of goods from the merchant to the consumer, vice versa and eventually even between consumers