Mahindra Logistics has acquired 60% stake in Whizzard, a logistics startup based in telangana. The deal is valued at Rs. 72 Cr ($9.5 Mn approx). Mahindra Logistics has pooled both primary and secondary capital for funding the deal.
Operated by ZipZap Logistics, Whizzard, offers intra-city distribution services via its mega network, primarily for e-commerce and last-mile delivery services as well. The logistics service provider manages 60 Mn packages per year. Whizzard has grown 10 times in the last three years and reaches to more than 3000 pin codes, thus, rendering customers with its full-stack digital capabilities and micro-distribution centres.
Source: inc42.com
