Wow Express, a Mumbai based E-commerce platform has raised $4.5 Mn in a Series A round of funding from existing investor Tamarind Family Private Trust of the Mansukhani family, the owner of the consumer durable brand Onida.
The latest Series A round also included previously issued compulsorily convertible debentures, which converted along with this round. The company is looking forward to using the freshly raised capital in expanding its geographical presence, strengthening its technology platform and senior management team.
Sandeep Padoshi, co-founder of WOW Express said, “We want to expand our e-commerce footprint, from the current 42 cities to over 100 cities in the next 12 months. We are also in talks to bring on board professional executives for our chief operating officer and chief financial officer positions.”
Wow Express has prominent players including LimeRoad, Amazon, Nykaa, TataCliq and Shein as its clients. The company which is mainly involved in e-commerce shipments recently launched its health and diagnostic operations, through which it will deliver blood samples and bodily fluids from labs to diagnostic companies.
The e-commerce firm which was founded in 2015 by industry experts Sandeep Padoshi, Jayesh Kamat, Mazhar Faruqi provides first mile, last mile and warehousing e-fulfilment solutions. As per company’s website, the firm covers over 1600+ zip codes, across 40 cities, with 70 branches as of June 2017.