Aavishkaar invests 320mn in e-commerce logistics firm Connect India
The objective of this investment is a focus of Aavishkar’s vision which seeks to catalyse development in India's unserved regions.BY Indian Retailer Bureau | Aug 01, 2015 | comments ( 0 ) |
Aavishkaar, an innovator in early stage investing has committed an investment of Rs.320 million in Connect India, a start-up organisation that is building a last mile network of distribution points for e-commerce across the country. Aavishkar founded in 2001 has invested across the under developed region of India and South and South-East Asia. The objective of this investment is a focus of Aavishkar’s vision which seeks to catalyse development in India's unserved regions. The company identifies capable entrepreneurs, provides them with capital, supplements it with a nurturing environment and helps build sustainable enterprises.
Aavishkaar is driven by the belief that an enterprise based development approach can enhance livelihoods and reduce vulnerabilities. Company’s 10-year goal is to invest in 300 start-up companies across emerging economies and raise US$1.0 billion.
Connect India has already carried successful trials of e-Commerce deliveries in regions of rural India that are yet un-serviced by online commerce initiatives. While Connect India will give distribution access to e-commerce Industry in rural India, it will also create convenience to the e-Commerce customers in urban India by being Hyper-Local.
With aid of this funding, Connect India would launch its commercial operations in 17 States, 150 towns and cities with 1500 Connect India Centres in rural and urban markets.
“We believe that the Connect India model of developing village level entrepreneurs to bring efficient logistics and reverse logistics to taluka- and sub-taluka-level communities in could create substantial development and livelihood impacts in rural India,” said Aavishkaar founder Vineet Rai. “At the same time, the strategy of leveraging existing, underutilized networks of community service centres provides the opportunity for rapid expansion with low capital investments, leading to rapid value creation for the company”.
The name of our organization – Aavishkaar -means ‘invention’ in Hindi. Founded in 2001, with a vision to catalyse development in India’s Unserved regions, Aavishkaar has established a successful track record with over US$ 155 million under management and a diverse portfolio of high – impact businesses at various levels of growth. This spans a range of sectors, namely agriculture, dairy, education, energy, handicrafts, health, water and sanitation, technology for development, microfinance and financial inclusion.
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