Grofers recorded fastest delivery: The Indian startup scene is booming right now! Zomato, a foodservice aggregator, just experienced a huge stock market debut. Paytm, a financial company, is also planning an IPO. Grofers, the online food shop, is almost ready to take off as well.
Grofers is likewise putting in a lot of effort to stay afloat and establish a name for itself in an already crowded market.
Recently Zomato funded Grofers with $120 million
Grofers just earned $120 million from newly listed Zomato. And, as a result of this strong backing, the firm is breaking new ground in the sector. The firm supplied to over 7000 houses in 15 minutes on July 26th.
The platform is reaping the rewards of its hard work over the last few years. They’ve put up an infrastructure where they source directly from the brand in strategically critical locations, allowing them to deliver quicker.
“Over the previous five years, our effort has given us the means and luxury of creating an ecosystem that can guarantee to deliver food to every home in Gurgaon in 15 minutes. Over 7000 houses received delivery within 15 minutes yesterday,” stated Albinder Dhindsa, co-founder and CEO.
Zomato has applied to the Competition Commission of India (CCI) for permission to buy a 9.3% interest in Grofers. Grofers will turn into a unicorn if this passes (privately funded technology startups that have a valuation of a billion dollars or more)
Groofers looking for more stakeholders
“When the initial wave of the current epidemic struck, we recognised two things: first, we needed to do more to assist the network of local partners and delivery agents that ensured vital items reached our users,” the CEO said on Twitter. Second, we saw that our consumers’ demands were dispersed throughout the month when they need grocery services for a variety of reasons.”
This isn’t the first time Grofers has tried to make a quick delivery. It was started in the early years of the company’s existence, but it had to be discontinued owing to high burn and low ticket amounts.