Logistics Startup VDeliver acquires food delivery app Towny

November 16, 2017: Logistics company VDeliver has acquired Towny App, an Andhra Pradesh-based mobile marketplace for hyperlocal services. Although the amount involved in the deal hasn’t been disclosed, the transaction was made as part of a cash-and-stock deal, informed official sources.

Srinivas Madhavam, the founder and CEO of VDeliver said that the acquisition will help the company to reach out smaller towns across Andhra Pradesh and Telangana and will open up new avenues of hyperlocal business with strong unit economics.

According to the terms of the deal, Towny will be rebranded as Exprs and will be formally launched in Hyderabad post the acquisition. Henceforth, Exprs will be specialising in food delivery and other hyperlocal services within the city.

Together with Exprs, VDeliver is aiming to expand its network to a total of 28 tier I and tier II cities, besides Hyderabad and Chennai. The Hyderabad based company is eyeing on strengthening its footprint in the major cities by serving ecommerce players in the country. The company is also said to be gearing up to raise fresh funding to bolster its expansion plans.