Reliance Venture invests in Reverse Logistics
Reliance Venture Asset Management India’s first and largest corporate venture capital firm and an arm of the Reliance ADA Group, today announced that it has successfully completed the first round of venture funding in Reverse Logistics Co, a technology enabled end-to-end reverse supply chain solutions company. Kleiner Perkins Caufield & Byers and Sherpalo are co-investors in this round of funding in Reverse Logistics Co. along with Reliance Venture Asset Management.
Reverse Logistics provides a one stop, technology enabled, comprehensive reverse logistics solutions for the Indian market. Reverse Logistics Co. understands that the power of reverse logistics is in data and so its solution’s backbone is its proprietary technology platform that provides end-to-end data visibility of the returned products from point of origin to its final disposition. The company’s single goal is to help companies make their reverse logistics process a competitive advantage allowing them to focus on their core competency of delighting customers through world class products.
Reverse logistics refers to the backward supply chain network where a product moves from the end consumer to the manufacturer for reuse, disposal or surplus sale purposes with the rationale to increase overall efficiencies, the release added.
-Hitesh, vcBytes.com
