Grofers FY16 revenue drops, losses widen 15-fold

Grofers3Hyperlocal delivery startup Grofers India Pvt. Ltd reported a sharp drop in revenue and a multifold jump in losses for 2015-16, hurt by rapid expansion and high costs that subsequently forced it to curtail operations and lay off staff. Revenue for the year through March 2016 fell 32% to Rs 58.34 lakh from Rs 86.38 […]

Read more

Groceries startup Supr Daily secures funding from Venture Catalysts, angel investors

For-SuprDaily-Story-TC_ThinkstockPhotos-101464110Mumbai-based daily consumables startup Supr Daily has raised an undisclosed amount of funding led by angel investors from Venture Catalysts such as Dr Apoorv Ranjan Sharma and Anil Jain. Krishna Jhunjhunwala, Anirudh Damani, Anuj Golecha, Dheeraj Jain (partner at Redcliffe Capital) and Harshvardhan Rajgarhia (Overnite Express) are some of the other angels who were part […]

Read more

Softbank-backed Grofers tweaks biz model to take on BigBasket

BigBasket006For on-demand online grocery delivery service provider Grofers, 2016 has been a year of change. The Gurgaon-headquartered startup not only scrapped its app-only model and launched a website; it has also quietly revamped its business strategy and operation processes. Grofers, which earlier operated on a marketplace model, has now shifted to a 70% inventory-led business […]

Read more

Digital payments firm FreeCharge ties up with grocery retailer Heritage Fresh

freeCharge_005Digital payments firm FreeCharge has entered into a strategic alliance with Heritage Fresh, a grocery retailer from South India, according to a press statement. With this partnership, payment though FreeCharge will be accepted at all 125 supermarkets of Heritage Fresh across Hyderabad, Bengaluru and Chennai. These transactions can be done in less than ten seconds […]

Read more

Online grocery store Satvacart raises third round of angel funding

Satvacart-TCOnline grocery store Satvacart has closed its third round of angel funding with the participation of serial entrepreneur and angel investor Nimit Panigrahi. The firm had earlier announced the participation of Abhijit Awasthi, former national creative director of Ogilvy & Mather, SP Vijay, co-founder and managing director, Tarento Technologies and Karan Chellani, angel investor and […]

Read more

Exclusive: Housing.com ex-COO to start online grocery venture

Housing_feTwo former executives at property portal Housing.com are starting an online grocery delivery venture, a segment that was investors’ favourite until last year but where many startups have shut shop after struggling to find profitable business models. Former Housing.com chief operating officer Rishabh Gupta has co-founded ‘The Box’—a subscription-based groceries startup—along with Vaibhav Chhimpa, a […]

Read more