Mumbai-based logistics services provider Parsel Technologies has reportedly acquired Accord Ecom Solutions Pvt Ltd, a third-party logistics provider, for an undisclosed amount.
“Following the acquisition, Accord Ecom’s delivery assets and manpower will continue operations under the brand name Parsel,” Parsel, which is owned Dropbase Software Pvt Ltd, said in a statement.
Launched in 2014, Accord Ecom, was solely catering to Flipkart in 19 Indian cities. With the acquisition, Parsel will gain access and cater to demand in these cities, most of which are tier II towns.
Founded this year by Akhil Sharma, Himanshu Meena and Rakesh KS, Parsel offers IT infrastructure service to the logistics industry. Currently, it operates in Delhi, Mumbai and Bengaluru.
According to Parsel, the company’s partners include Flipkart, Snapdeal, Amazon, ITC, Ferns and Petals, Mother dairy, Bisleri, Delhivery, Ecom Express, On-Dot Courier, and several food tech startups.
Parsel had raised angel funding of Rs 4 crore (USD600,000) from Nimir Mehta, an operating partner at CLSA Capital, Singapore, in August this year.