Oxyzen Express a Chennai-based tech-logistics company has successfully raised $3 million (approximately 25 Crore) in its round 2 of seed capital funding.
The company is efficacious within the highly competitive express logistics line of business which boasts a total addressable market opportunity of Rs 1.5 trillion.
Oxyzen Express is co-founded by 8 industry veterans led by Bala Aghoramurthy, Raghuraman R, and Patram Choudhary with a vision to ‘Reimagine Logistics’ in India.
Seed Fundraise Report
The fundraising activity of Oxyzen Express happened through the course of this current financial year with the lead investor like…
- Tamil Nadu Emerging Sector Seed Fund.
- SNAM Group of companies
Tamil Nadu Emerging Sector Seed Fund (TNESSF) a SEBI-registered AIF managed by Tamil Nadu Infrastructure Fund Management Corporation Limited.
SNAM Group of companies is a manufacturing conglomerate in alloys and abrasives.
Apart from this, there were other Angel investors involved in the funding round.
Oxyzen Express commenced its business operations in early 2022 and established its pan-India network covering over 10,000 pin codes.
In a short presence of time, the company established its market presence nationally, escalated to nearly $6 million in FY 2022-23 revenue.
Today the company serves many corporate customers across multiple industry sectors which also include Retail, Pharma, FMCG, E-commerce, Auto, and Electronics.
Oxyzen’s USP
This USP has recently launched a proprietary tech stack, OWENS, which engulfs many industry-first design concepts that shall deliver loftier customer experience along with industry-leading commercial efficiency.
A noteworthy innovation within OWNES is the Middle Mile Optimizer which performs Deep Search Data instantaneously to optimize and automate everyday network decisions.
As financial advisors, the fundraising was made easier by Lion Hill Capital. “Oxyzen’s leadership team, formulated of seasoned industry veterans with a demonstrated track record, played a pivotal role in influencing our investment decision.
As the logistics industry undergoes a transmuting phase, we are confident that Oxygen is remarkably positioned to spread head-positive change through its innovative and cutting-edge solutions.” said Gana S K, TNIFMC.
SNAM Group of Companies director, Muralidhar Dhuddu said “We are thrilled about this investment for many reasons. Logistics is a sunup sector and within a jiff period, Oxyzen has been able to land large customers and rise revenue aggressively.
Mr. Muralidhar further said, “ We are also very dazzled with an incredible founding team who brings unparalleled sector experience to the business.”