India-based logistics startup QikPod has launched with $9m of funding from investors including e-commerce company Flipkart, logistics service provider Delhivery and contract manufacturer Foxconn, the Economic Times reported today.
Flipkart, Delhivery and Foxconn, which supplied its share of the funding through its Foxconn Mobile subsidiary, were joined in the round by US-based venture capital firm Accel Partners.
QikPod aims to establish a network of intelligent lockers located in metropolitan centres around India that e-commerce companies can use to store delivery stock, enabling them to avoid some of the costs associated with rescheduling deliveries if customers are unable to accept goods.
Such a system would make the delivery process smoother for e-commerce and logistics companies. Delhivery, which specialises in last-mile delivery, warehousing and payment collection for online sellers, claimed it could move as much as 10% of its deliveries through the network.
In addition to providing funding for QikPod, Taiwan-based Foxconn is expected to manufacture the lockers.
QikPod founder Ravi Gururaj told ET: “I believe over time parcel locker networks will help handle nearly a third to half of the parcels shipped across India’s metros. Our plan is to build the world’s largest parcel locker network with over 50,000 lockers across all major metro cities in India.
“I hope you will see a QikPods deployed in every apartment building, office park, many popular retail outlets and public transit locations in the not too distant future.”