SIDBI Venture Caps invests Rs 10 cr in Direct Logistics

Mumbai, June 26 (UNI) Direct Logistics India Pvt Ltd has announced that it has received Rs 10 crore as first round of fundning from Small Industries Development Bank of India (SIDBI) Venture Capital Ltd (SVCL).

Direct Logistics Managing Director Captain Sunil Devrani told mediapersons here today that, ''This investment will help us attain our objective of achieving leadership position by innovative logistics, distribution and procurement solutions.'' He also said they plan to foray into unventured territories, like expansion in Central Asia-Afghanistan, Kazakhatan and Uzbekistan.

''SVCL has been an active investor in the small and medium enterprises sector in India and the firm brings a wealth of knowledge through its investments in various companies in India.

Their national network and extensive contact will help Direct Logistics to continue its growth in an emerging market,'' he expressed.

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