Borzo, a global same-day intracity delivery service for enterprises, has acquired NOW, a 90-minute delivery service provider in India.
Located in the Netherlands, Borzo plans to expand its footprint in Asia and provide clients with additional customized delivery options as a result of the acquisition.
NOW will benefit from Borzo’s knowledge and efforts in 10 countries, including Brazil, India, Indonesia, Korea, Malaysia, Mexico, the Philippines, Russia, Turkey, and Vietnam, as an independent brand.
“Joining forces will allow us to rapidly scale up in a market where demand for hyperlocal deliveries is in millions per day,” said Vivek Pandey, Co-Founder and CEO of NOW.
NOW will be run by the present management team, with a goal of exceeding 5 million deliveries by 2022.
Borzo is a global delivery service that allows businesses to deliver within cities. It was founded in 2012. To assure same-day delivery, its algorithms optimize many concurrent deliveries while taking into account geographical routes, package contents, couriers, and other considerations.
Recently, Borzo received a total of $60 million in venture capital from Mubadala Investment Company, Flashpoint, AddVenture, and VNV Global, among others.
NOW is a B2B commerce platform for micro shops that allows for product discovery, rapid delivery, and credit. It was launched in 2015.
NOW, which operates in eight locations, provides transparent pricing at the time of ordering as well as real-time delivery monitoring for clients and receivers to restaurant and drugstore chains, aggregators, e-commerce, and direct-to-consumer businesses.
NOW claims to have close to 2 million orders every year for KFC, Pizza Hut, Apollo Pharmacies, Amazon, and other businesses with a fleet of approximately 1,500 riders.
Indian B2B businesses account for 43% of all unicorns in India, according to the “B2B Marketplace India” report.