Oxyzen Express is a Chennai-based tech-logistics startup. It has been able to raise $3 million in a second tranche, and this was in its Series C funding round.
The company is known to have been co-founded by Bala Aghoramurthy, Patram Choudhary, as well as Raghuraman R. It functions in the express logistics industry, which is a sector where the market opportunities are around Rs. 1.5 trillion. The company started in 2022 and has been able to establish its presence significantly in the Indian logistics market.
The investors in Oxyzen Express
The funding round for this tech-logistics startup was led by the Tamil Nadu Emerging Sector Seed Fund along with the SNAM Group of Companies. Also, the additional participation was from different angel investors. Everything was facilitated by Lion Hill Capital, which acted as a financial advisor.
As per Gana S. K., TNIFMC, ‘Oxyzen Express’s leadership team, involving seasoned industry veterans, has a demonstrated track record. It played an essential role in influencing our overall investment decision. As the logistic industry is going through its transformative phase, we are confident that this startup is going to spearhead various positive changes via its innovative as well as cutting-edge solutions.’
Oxyzen Express: Optimizing as well as automating network decisions
Oxygen Express’s USP is that it developed its proprietary tech stack, which is OWENS. It involves various industry-first design concepts that aim to improve the customer experience along with commercial efficiency. OWENS will lead a significant innovation within ‘Middle Mile Optimizer’, which is a tool that involves deep search data analytics. It is beneficial to optimize as well as automate network decisions.
The revenue growth and strong client base of Oxyzen Express
Since Oxyzen Express’s beginning, it has been expanding its operations and has covered more than 10,000 pins across India. This startup has reported around $6 million in revenue for FY 2022–23.
Also, the startup claims to benefit a massive range of marquee corporate customers in various sectors like retail, FMCG, electronics, pharma, auto, etc.
However, Lion Hill Capital facilitated the fundraising as a financial advisor, which is a city-based firm as per the statements.
According to Muralidhar Dhuddu, the director of SNAM Group of Companies, ‘We are looking forward to this investment for various reasons. Logistics is a sunrise sector, and in a limited time, Oxyzen has successfully landed massive customers along with scaling revenue aggressively. We are also happy with the founding team, which offers unparalleled sector experience to the entire business.’
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