The two promoter groups of Onida brand of electronics, the local, Mumbai based Mansukhani family is now holding a 30 percent stake in the Wow Express.
Vijay Mansukani, who is one of the co-founders of the Micr Electronics will join the board of the company.
Onida is currently been promoted by three logistics industry veterans.
Started in just early January this year, and founded with a motto to help exclusively to the e-commerce sector,Wow Express is a logistics company.
Mansukhanis who also owned Tamarind Family Provate Limited has made a Rs. 3.2 crore seed investment in Wow Express, valuing the company at about Rs. 9 crore, as quoted in the TOI.
Wow Express has been successful in tying up with the well known names in the e-commerce space like Paytm.com, redid.com and Fashionandyou.com in spite of being birthed just 6 months ago.
“The plan is to be present in about 12 cities by December this year and in about 50 locations by the end of 2016.” Says Sandeep Padoshi, one of the co-founders among Jayesh Kamat and Mazhar Faruqi.
The following two has a strong back drop of having worked for global logistics majors like DHL, UPS, TNT and Singapore post.
