Oxyzen Express Secures $3 Million in Seed Funding
- ByStartupStory | December 23, 2023
Oxyzen Express, a Chennai-based logistics and supply chain solutions startup, has successfully secured $3 million (Rs 25 crore) in the second tranche of its seed capital round. The funding was led by Tamil Nadu Emerging Sector Seed Fund and SNAM Group of Companies, with participation from several angel investors.
The startup recently unveiled its proprietary tech stack, OWENS, which integrates innovative design concepts aimed at enhancing customer experience and commercial efficiency. A key feature of OWENS is the ‘Middle Mile Optimizer,’ a real-time deep search data analytics tool designed to optimize and automate network decisions.
Founded by Bala Aghoramurthy, Raghuraman R, and Patram Choudhary, Oxyzen Express is a registered participant in the Startup India initiative, focusing on the PTL/express logistics industry. Since its inception in early 2022, the company has expanded its network to cover over 10,000 pin codes across India.
Despite its relatively short time in operation, Oxyzen Express has achieved remarkable growth, boasting nearly $6 million in revenue for the fiscal year 2023. The startup caters to a diverse range of corporate clients in sectors such as retail, pharmaceuticals, FMCG, ecommerce, electronics, and automotive industries.
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