Online relocation platform Flytta raises undisclosed amount for Seed Round
Founders: Rahul Kanuganti and Gokulavasan Murali
Founded in: 2016
Financing status: Undisclosed amount for seed round in 2017
Online relocation platform Flytta has raised an undisclosed amount for seed round from Corvus Ventures. Earlier this month, Corvus Ventures also invested in another Hyderabad-based logistics platform VDeliver for their pre-Series A round.
Flytta, a Hyderabad-based online relocation platform, was founded in January 2016 by Rahul Kanuganti, previous vice president at October Sky, and Gokulavasan Murali. The startup claims to have helped over 500 people relocate to Hyderabad from other cities for work. The startup will use the newly raised investment to develop partners and create targeted relocation offerings.
According to Flytta, the relocation industry in India is valued at INR 6,000 crore (USD 920 million), with 20% annual growth. Other startups in the relocation-services field in India are VDeliver, Pikkol, Rivigo, BlackBuck and Moovo.
VDeliver, also based in Hyderabad, is an online logistics solution provider. Last week, the startup raised an undisclosed amount for their pre-Series A round led by Corvus Ventures and MAPE Advisory Group.
Pikkol is a Bangalore-based relocation service provider. Last October, the startup received its seed round from a group of angel investors, including Ajay Nanavati and Afsal Salu. Ajay Nanavati was the former chairman of 3M India, the Indian arm of the US multinational conglomerate 3M Co. Afsal Salu was a co-founder of a hyperlocal delivery company Delyver, which was subsequently acquired by BigBasket.
BlackBuck, also Bangalore-based, is an online marketplace for logistics transactions. This year, the startup raised USD 70 million for their Series C round led by Sands Capital. Existing investors, Accel Partners and Flipkart, also participated in the round.
Rivigo is a logistics service provider based in Gurgaon. In November of last year, the startup secured USD 75 million for their Series C round from Warburg Pincus.
Moovo is based in Delhi. It is a app-based mini-trucks aggregator providing logistics services in Delhi-NCR (National Capital Territory of Delhi). The startup raised seed round from Yuvraj Singh’s YouWeCan Ventures and other angel investors.
(Top photo from 591danji website)