Y Combinator-backed online grocery delivery start-up KiranaKart has raised Rs 5.33 crore led by Global Founders Capital. The pre-seed round also saw investment from Contrary Capital, 2 AM Ventures, along with angel investors from India and Silicon Valley.
Speaking on the investment, Aadit Palicha, CEO and Co-founder, said, “As our Y Combinator journey unfolded, we focussed on finding a loyal segment of users and iterating on our product. We’ve kept ourselves under the radar, but now we’re ready to move this forward. We’ve already onboarded enough kiranas and major retail chains to comfortably deliver to 80 percent of Mumbai, and we’re excited for our all-city launch in the next three weeks.”
“We believe our technology-first approach will be a powerful edge over incumbents in this space. Unlike food delivery or ride-sharing, the grocery delivery market in India is far from conquered, and we’re excited to tackle it head-on with a different approach,” said Kaivalya Vohra, CTO and Co-founder, KiranaKart.
The Mumbai-based startup aims to use the funds to augment its service of grocery delivery across Mumbai. The startup also aims to undertake the first 1,50,000 deliveries at a cost of Re 1.
–AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.