The Tamil Nadu Emerging Sector Seed Fund and SNAM Group of Companies, who serve as lead investors, have contributed $3 million (roughly Rs. 25 crore) to the seed capital round of Oxyzen Express, an express logistics and supply chain solutions startup. Numerous additional angel investors took part in the round as well.
The Chennai-based startup recently unveiled OWENS, a proprietary tech stack that combines design principles that it says will improve customer experience and boost business productivity. The “Middle Mile Optimizer,” which conducts real-time deep search data analytics to optimize and automate routine network decisions, is reportedly a key innovation within OWENS.
Oxyzen Express, a PTL/express logistics company, was co-founded by Raghuraman R, Patram Choudhary, and Bala Aghoramurthy. It is registered under the Startup India initiative.
The company started operations in early 2022 and built a pan-Indian network spanning over 10,000 pin codes.
The startup says that it quickly scaled to almost $6 million in revenue in FY23. It provides services to well-known corporate clients in a number of industry sectors, such as retail, pharmaceuticals, FMCG, e-commerce, electronics, and automotive.
