New investment for India’s WOW Express
The Mumbai-based Mansukhani family has bought a 30% stake in the start-up logistics and parcel delivery firm Wow Express for US$500,000. The Mansukhanis, who are making their investment in Wow Express via their Tamarind Family Private Trust, are co-owners of the Onida electronic brand.
Wow Express, which launched in January this year, currently has branches in Mumbai, Thane, Delhi NCR, Ahmadabad, Surat and Jaipur, but plans to use the new funding to expand its network.
“The plan is to be present in about 12 cities by December this year and in about 50 locations by the end of 2016,” Sandeep Padoshi, one of the co-founders , told The Times of India.
