Quick-Commerce Fulfilment Startup Blitz Raises Rs 28.7 Crore in Pre-Series B Round at a 2.5X Valuation Premium
Bengaluru-based quick-commerce fulfilment startup Blitz has raised Rs 28.70 crore in a pre-Series B round led by existing investor IvyCap Ventures, which contributed Rs 12.70 crore, with ICMG Group investing Rs 4.75 crore and entrepreneur Vishal Dhupar putting in Rs 2.50 crore, alongside several other angel investors.
Here’s what Blitz actually does. Founded in 2020 by Gaurav Piyush, Mayank Varshney and Yash Sharma, the company helps e-commerce and D2C brands offer 10-minute, 60-minute, same-day and next-day deliveries through its network of dark stores and fulfilment centres, essentially building the backend infrastructure that powers fast delivery for brands that don’t want to build it themselves.
The valuation jump here is the real headline. According to Entrackr’s estimate, the fresh round values Blitz at around Rs 440 crore post-money, roughly 2.5X its Series A valuation of Rs 175 crore, a sharp re-rating for a company operating in India’s intensely competitive quick-commerce space. The board approved issuing 21,883 compulsorily convertible preference shares at Rs 13,118 each to raise the capital, and the company may still raise additional capital within this same round, which would push the valuation even higher.
The ownership structure reflects IvyCap’s continued conviction. After this allotment, IvyCap Ventures remains Blitz’s largest external shareholder with a 23.47% stake, followed by India Quotient at 15.31% and AL Trust at 3.29%, while co-founders Yash Sharma and Mayank Varshney each hold 11.53%, with Gaurav Piyush holding 6.72%.
The business reality check is worth noting too. Blitz’s operating revenue rose sharply to Rs 50.6 crore in FY25, up from Rs 22.18 crore in FY24, but losses also widened in step, growing to Rs 24.33 crore from Rs 11.17 crore, a familiar pattern for infrastructure-heavy quick-commerce plays still in their scaling phase.
From dark stores to deal-making, Blitz’s 2.5X valuation jump is a signal that investors still see real value in being the backend brands rely on, not just the front-facing apps customers see.
#StartupNews #Blitz #QuickCommerce #PreSeriesB #IvyCapVentures #IndianStartups #D2C
— 𝔖𝔞𝔫𝔡𝔢𝔢𝔭 ℜ𝔞𝔦𝔷𝔞