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Hyperlocal grocery service PepperTap raises seed funding from Sequoia Capital

peppertap

Gurgaon-based hyperlocal grocery service PepperTap has raised an undisclosed amount in seed funding from Sequoia Capital and the company said that the funding is being directed towards building a resilient foundation for the company and expanding its orbit across Delhi NCR. It will also  be used to scale up the operations and build a highly-skilled team of 100+ employees across all verticals by the end of the year. Besides this, the seed fund will be utilized for creating strong offline as well as online visibility for the brand and to further develop the existing product.

Started in November 2014, by founders Milind Sharma and Navneet Singh, PepperTap allows a user to buy grocery, fruits & vegetables through the company’s app, that is available for Android and iOS users.The company claims to offer delivery in under 2 hours and offers free delivery on order above Rs 250.

Other players

– Godrej Group’s premium food products retailer Nature’s Basket has acquired Mumbai-based online grocery store Ekstop.com. The report also mentions that currently Nature’s Basket is working on rebranding and integrating Ekstop.com as its online platform. The Ekstop management team is expected to join Nature’s Basket and the new platform is expected to launch March 15.

– The SRS Group has forayed into e-commerce with the launch of its grocery vertical website, SRSgrocery.com last month. SRS grocery currently caters to users in Gurgaon, Noida and Faridabad. The website currently offers various items under the categories of fruits and vegetables, bread and dairy products, beverages, branded foods, grocery and staples, personal care, household, frozen food, imported and gourmet and organic. SRSgrocery does not have a minimum order requirement and does not charge for delivery.

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– Mumbai based online grocery store LocalBanya secured an undisclosed amount in Series A funding from a real estate development group Karmvir Avant Group.

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

– In September, discount coupon website Mydala.com had launched a grocery vertical for its website and mobile app. The website claims the service will allow shoppers to view offers on grocery items from local kirana stores.

– The same month, Bangalore-based online grocery retailer BigBasket raised Rs 200 croreinvestment in a round led by Helion Ventures and Zodius Capital and participation from existing investors Ascent Capital and LionRock Capital. The company had also raised $3 million from a Singapore-based private investor in April last year.

– In August, Naspers-owned online marketplace Tradus.com had pivoted to become an online grocery-only store. The company had previously started selling groceries by tying up with local sellers in April this year. Consumers could order groceries such as dal, rice, sugar, tea to dry fruits from local sellers through this service. It was initially available only in Delhi, and seems to have rolled out to Mumbai, Faridabad, Ghaziabad, Gurgaon, Noida and Bangalore in the past few months.

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