Oxyzen Express, a Chennai-based tech-logistics company registered under the Startup India initiative, has closed its Seed Capital Fund Raise Round Two at $3 million (approximately ₹25 crore).
The Tamil Nadu Emerging Sector Seed Fund (TNESSF, a SEBI registered AIF managed by Tamil Nadu Infrastructure Fund Management Corporation Ltd) and SNAM Group of Companies (a manufacturing conglomerate in alloys and abrasives), besides a host of angel investors participated in the fund raise in the current financial year. The fund raise was facilitated by Lion Hill Capital as financial advisors, an official release said.
The company, which has established a pan-India network covering 10,000+ pincodes, commenced business operations in early 2022. It recorded revenues of nearly $6 million in FY 2022-23.
Today, Oxyzen serves corporate customers across industry sectors, including retail, pharma, FMCG, e-commerce, electronics and auto, the release said.