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Hyperlocal grocery e-tailer FreshWorld raises funding from Infosys co-founder

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Hyperlocal fruit and veggies e-tailer FreshWorld has secured an undisclosed amount of investment from Infosys co-founder Kris Gopalakrishnan. The funds will be used to scale FreshWorld’s retail network, upgrade its e-carts and technology. The company plans to triple its e-carts to 60 and bring on board 250 employees by the end of 2015. FreshWorld sources fruits and vegetables from farmers, producers and aggregators and claims that it’s delivery is environment friendly.

The year-old Bangalore-based startup works like a street vendor using electric carts associated with a tablet, printer and communication technologies to keep track of its transactions. FreshWorld operates over 20 customised and battery operated rickshaws going around 12 regions in Bangalore and claims to be selling over 200 kgs of fruits and veggies per rickshaw every day.

Competition

– Gurgaon-based hyperlocal grocery service PepperTap raised an undisclosed amount in seed funding from Sequoia Capital earlier this week.

– The SRS Group also forayed into e-commerce with the launch of its grocery vertical website SRSgrocery.com, earlier this year and currently delivers in Gurgaon, Noida and Faridabad.

– Reliance Industries retail arm Reliance Retail launched an e-commerce store called RelianceFreshDirect.com late last year, to delivery grocery products in some neighborhoods of Mumbai.

– BigBasket, which delivers in Bangalore, Pune, Mumbai and Hyderabad, raised INR 200 crores late last year.

– Godrej’s Nature’s Basket tied-up with Snapdeal earlier this year to make gourmet products available to its customers.

– Other players in this space include OnlineSabjiWala, The VegKart, GreenCart, SabziKart, and Veggies.co.in.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ