Quick commerce logistics firm Pikndel raises $1 million in seed round

VC Grid, a syndicate fund, announced its participation in a $1 million seed funding round for Pikndel, the logistics technology company transforming quick commerce delivery solutions for D2C and e-commerce brands.

The funding round saw participation from several notable investors, including D2C Insider Angels, Breathe Capital, Venture Catalysts, and industry leaders such as Akash Gupta from Zypp, Keshav Bhajanka and Sanjay Agarwal from Century Plywood, and Kanishka Sethia from Western Carriers, along with family offices from Kolkata.

Founded in 2022 by Siddharth Batra and Tullika Batra, Pikndel has a network of shared dark stores and tech-enabled last-mile fleet that enables brands to offer multiple delivery options ranging from 1-hour to next-day delivery.

The founding team brings together complementary expertise critical for success in the logistics technology sector. Siddharth Batra, a Chartered Accountant with an MBA from ISB, brings valuable experience from his tenure at KPMG, EY, and BCG. Co-founder Tullika Batra holds over eight years of hands-on experience in logistics operations, ensuring operational excellence across the platform.

“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. At the heart of Pikndel's offering is a comprehensive logistics platform that revolutionises how brands approach quick commerce,” reads the release.

With its network of shared dark stores, the company enables efficient inventory management while providing flexible delivery options. The platform's tech-enabled last-mile fleet ensures optimised delivery operations, allowing brands to launch quick commerce services within 72 hours.

Vansh Oberoi, Managing Partner, VCGrid, said, “Pikndel's innovative approach to quick commerce logistics addresses a critical gap in India's rapidly evolving e-commerce landscape. Their 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 $10 billion by 2029, we are confident that Pikndel is strategically positioned to play a pivotal role in driving this growth. The founding team's combined expertise in logistics operations and business strategy makes them perfectly suited to execute this vision. At Venture Catalysts, we are both excited and delighted to be a part of this growth story.”

Siddharth Batra, Founder of PiknDel, commented, “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. Pikndel transforms the logistics challenges into a seamless, scalable opportunity, enabling brands to enter the quick commerce market swiftly and efficiently. The investment received will be pivotal in scaling up our expansion plans and increasing our presence in multiple cities, making quick commerce a ubiquitous option for our customers.”

The seed funding will power Pikndel's growth plans to expand and scale their operations while enhancing its technology infrastructure. The investment will also support the strengthening of last-mile delivery capabilities and the development of additional service offerings for brand partners.

The release also reads, “As consumer expectations for delivery speed continue to rise and brands seek competitive advantages in the e-commerce space, Pikndel's technology-first approach and shared infrastructure model position it perfectly to capitalize on this growing market opportunity while helping brands meet evolving customer demands.”