Processing .....please wait.. 
The article has been forwarded.... 
Reliance ADAG arm invests 
32 Crore in Reverse Logistics
Mumbai: Reliance Venture Asset Management (RVAM), a venture capital firm and an arm of the Reliance ADA Group, has invested around $7 million (
32 crore) in Reverse Logistics (RL), a reverse supply chain solutions company based in Bangalore, reports Vandana from Business Standard. Also, Kleiner Perkins Caufield & Byers and Sherpalo are co-investors in this round of funding in Reverse Logistics along with Reliance Venture Asset Management.
Hitendra Chaturvedi, Managing Director and CEO, Reverse Logistics said, "We are thankful to Reliance Venture Asset Management and our other investors for recognizing the potential of this industry and its attempt to make reverse supply chain truly mainstream. With industries across sectors turning to cost optimization with the intent to remain eco-friendly, we will continue to offer optimum solutions to bridge the gap between the end consumer and the manufacturer."
The announcement is in line with the company's recent rebranding and widening focus on investing in disruptive and sustainable business models. Founded in 2008, Reverse Logistics uses its proprietary technology to help its customers reduce supply chain costs by over 25 percent, increase asset recovery by over 100 percent, improve productivity by over 10 percent, and get a 100 percent customer satisfaction while growing profitability exponentially.
Harshal J. Shah, CEO, Reliance Venture Asset Management said, "The reverse logistics space is a fairly untapped but promising sector, and will revolutionize efficiency levels of the fragmented Indian supply chain. As an opportunistic investor, we see an immense potential in the industry which is emerging to be an essential part of the business supply chain network across the manufacturing and services industries."
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. In developed countries, the reverse supply chain management is outsourced and focused to increase the overall shareholder value.
Sandeep Murthy, Partner, Sherpalo Ventures and Kleiner Perkins Caufield & Byers said, "Reverse Logistics is a great example of the next breed of companies that will emerge in India. They are effectively leveraging technology to drive value and cost savings while catering to a very large unmet customer need."
32 crore) in Reverse Logistics (RL), a reverse supply chain solutions company based in Bangalore, reports Vandana from Business Standard. Also, Kleiner Perkins Caufield & Byers and Sherpalo are co-investors in this round of funding in Reverse Logistics along with Reliance Venture Asset Management.
Hitendra Chaturvedi, Managing Director and CEO, Reverse Logistics said, "We are thankful to Reliance Venture Asset Management and our other investors for recognizing the potential of this industry and its attempt to make reverse supply chain truly mainstream. With industries across sectors turning to cost optimization with the intent to remain eco-friendly, we will continue to offer optimum solutions to bridge the gap between the end consumer and the manufacturer."
The announcement is in line with the company's recent rebranding and widening focus on investing in disruptive and sustainable business models. Founded in 2008, Reverse Logistics uses its proprietary technology to help its customers reduce supply chain costs by over 25 percent, increase asset recovery by over 100 percent, improve productivity by over 10 percent, and get a 100 percent customer satisfaction while growing profitability exponentially.
Harshal J. Shah, CEO, Reliance Venture Asset Management said, "The reverse logistics space is a fairly untapped but promising sector, and will revolutionize efficiency levels of the fragmented Indian supply chain. As an opportunistic investor, we see an immense potential in the industry which is emerging to be an essential part of the business supply chain network across the manufacturing and services industries."
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. In developed countries, the reverse supply chain management is outsourced and focused to increase the overall shareholder value.
Sandeep Murthy, Partner, Sherpalo Ventures and Kleiner Perkins Caufield & Byers said, "Reverse Logistics is a great example of the next breed of companies that will emerge in India. They are effectively leveraging technology to drive value and cost savings while catering to a very large unmet customer need."