Hyper-local Logistic leader VDeliver acquires Towny app11 months ago Saritha Keshamoni
To be re-launched in city as ‘Exprs’ shortly, serve the hyperlocal consumers
VDeliver, a leader in intracity logistics, has acquired Towny app. Towny app has its food delivery and other services in 28 towns of Andhra Pradesh, major being Kadapa, Tirupati, Vizag, Vijayawada and others. The deal is part of cash and stock for an undisclosed amount.
Towny has more than twenty five thousand app downloads and has a fleet of 250 service executives spread across the state. While many heavily funded startups in this space couldn’t have stronger unit economics, Towny App proved that right business model can always sail through any odds.
Announcing the acquisition, Mr Srinivas Madhavam, Founder & CEO of VDeliver said “This acquisition is significant for Vdeliver since it allows us to reach out smaller towns across Andhra Pradesh and Telangana. And also, this will open up new avenues of true hyperlocal business with strong unit economics”
Mr Suresh Avvaru, Co-Founder & CEO of Towny App said, “We are delighted to explore this opportunity of working with team VDeliver. It’s wonderful to know that our goals have been similar. Our mission and vision is to provide our customers with a sense of pride of being our customer. Together, our interest will be taking the company to next inorbit and focus on the growth trajectory of Exprs (TownyApp)”.
Towny will be rebranded as Exprs and will be launched in Hyderabad. With the launch in Hyderabad, Exprs will cater to food delivery and other hyperlocal services in the city. By the end of financial year, VDeliver and Exprs will actively be catering to 28 Tier 1 & 2 Cities besides Hyderabad and Chennai. While e-commerce is strengthening its footprints in Tier 1 & 2 Cities, the company will start serving major e-commerce giants soon.
VDeliver is backed by Corvus Ventures, Boss Consulting, Australia, Mape Advisory, Mr. Anil Bhansali, Mr Ramaraj and others. With future fundraise, VDeliver will be aggressively eyeing on expansion.
VDeliver is a Hyderabad’s leading Intra City Logistics Service. Founded by Srinivas Madhavam, A Mechanical Engineer in April 2011. Mr. Chaitanya, a mechanical engineer, has joined Srinivas Madhavam in 2014 and he is currently heading the operations at VDeliver. VDeliver is operational in Hyderabad & Chennai and has generated employment for over 250 people. VDeliver is the only logistics startup from Hyderabad to get graduated from a GenNext accelerator by India’s biggest businesses Reliance Industries Ltd. & Microsoft Ventures and is also backed by Startup Leadership Program, A global program for Startup CEOs.