New Delhi, Nov 3 (PTI) Reverse logistics start-up Deliveryontime Logistics, which operated under the brand name Bizlog, on Tuesday said it has raised Rs 12 crore in a pre-series-A round led by Indian Angel Network (IAN) Fund.

Karnataka-based electronics retail chain Adishwar's founder Paras Jain also participated in the funding round.

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"With the growing need of electronic devices, reverse logistics is a growing need for the reuse of these products delivered at the customers' doorstep. Companies like Bizlog present sustainable solutions to the e-waste problem and are the need of the hour," Padmaja Ruparel, Founding Partner, IAN Fund said in a statement.

Bizlog said that the funding raised by the startup will be utilised majorly for the organization's development and growth as well as technology enhancement, with a roadmap to onboard new verticals and expand its business pan India in the next few years.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)