E-commerce major Snapdeal has invested $20 million (around Rs130 crore) in logistics firm gojavas to help it expand operations in the country. The funding is part of the online marketplace's plan of investing $200 million to strengthen delivery and logistics operations.
Snapdeal in March had announced that it will invest $150-200 million in the next one year on expanding its delivery operations as the competition in the booming Indian e-commerce market heats up. It had picked up stake in gojavas. According to sources, the company had picked up stake in the company for about Rs200 crore. The $20 million funding will be used by gojavas to expand its footprint to include 100 more cities within the next 6-12 months, Snapdeal said.