Oxyzen Express raises $3 Mn in seed round

Express logistics and supply chain solutions startup Oxyzen Express has raised $3 million (Rs 25 crore) in its second tranche of its seed capital round from Tamil Nadu Emerging Sector Seed Fund and SNAM Group of Companies as lead investors. A host of other angel investors also participated in the round.

The Chennai-based startup recently launched proprietary tech stack OWENS, which incorporates design concepts that it claims will deliver superior customer experience along with commercial efficiency. It said a significant innovation within OWENS is the 'Middle Mile Optimizer' that performs deep search data analytics in real-time to optimize and automate everyday network decisions.

Co-founded by Bala Aghoramurthy, Raghuraman R and Patram Choudhary, Oxyzen Express is registered under the Startup India initiative and operates within the PTL/express logistics industry.

The firm established its pan-India network covering over 10,000 pin codes and commenced business operations in early 2022. 

Within a short period, the startup claims to have scaled to nearly $6 million in revenue in FY23. It serves marquee corporate customers across multiple industry sectors including retail, pharma, FMCG, ecommerce, electronics and auto.