NuvoEx

About NuvoEx

Nuvo Logistics Pvt Ltd, operating as NuvoEx, was established in 2013 by co-founders Navneet Singh and Milind Sharma. Both founders brought previous experience from the logistics sector, having worked at Delhivery before launching their own venture. The firm was created to address logistical challenges within India's burgeoning e-commerce market, with a specific focus on reverse logistics.

NuvoEx provided end-to-end reverse flow solutions, which included services like quality checks from the warehouse to the customer's doorstep. Its business model centered on offering specialized and customized logistics services to e-commerce companies. The company's clients included major online retail players such as Flipkart, Amazon, Snapdeal, Paytm, Myntra, and Jabong. A notable part of its operational strategy was a delivery network that utilized over 700 local kirana stores, known as the Paketts Network. By 2016, NuvoEx had expanded its network to more than 75 cities and was processing over 30,000 transactions daily, positioning itself as a significant player in the reverse logistics space.

The company's growth was supported by substantial funding, raising a total of over $46 million from investors including Sequoia Capital, Snapdeal, SAIF Partners, and InnoVen Capital. NuvoEx was also the parent company of PepperTap, an on-demand grocery delivery service that was later shut down to allow the company to refocus on its core logistics operations. In October 2017, the business assets of NuvoEx were acquired by Shadowfax, an on-demand logistics company. The acquisition was aimed at expanding Shadowfax's presence across India and enhancing its last-mile delivery capabilities. Following the acquisition, co-founder Milind Sharma was slated to join the merged entity.