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E-grocery retailer Grofers buys mobile grocery startup My Green Box for undisclosed amount

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Hyperlocal e-grocery retailer Grofers has acquired mobile grocery My Green Box, reports ET Tech. The details of the deal were not disclosed. Another report on TheTechPortal states that My Green Box’s 15 member team has been brought into Grofers and Varun Khurana, founder of My Green Box will act as the CTO of Grofers. Grofers plans to build depth in their grocery vertical, which it claims where 60% of their business comes from.

Gurgaon based Grofers had raised series A funding of $10 million led by Tiger Global Management and Sequoia Capital in February this year. In December last year, the startup had raised an undisclosed amount of seed funding from Sequoia Capital and Zomato founder Deepinder Goyal.

Grofers, which was started in January 2013, claims that it works with 250 vendors, processing 30,000 deliveries per month, out of which one fifth happen through the mobile app. It claims to process over 700 orders every day in Delhi-NCR and Mumbai and had recently opened operations in Bangalore. It even lets users order through Twitter with the #TweetnShop and claims delivery time of less than 90 minutes.

My Green Box is Gurgaon based and was founded by Varun Khurana and Prashant Jain in April 2014. The ET report mentions that it had raised angel funding of ~$160,000. It does not have a minimum order value but charges Rs 50 for orders below Rs 250.

Competition

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  • Amazon launched an express delivery platform called KiranaNow to make everyday consumer products available to its users in Bangalore last month.
  • FreshWorld raised an undisclosed amount of investment from Infosys co-founder Kris Gopalakrishnan in February.
  • Gurgaon-based hyperlocal grocery service PepperTap raised an undisclosed amount in seed funding from Sequoia Capital in the same month.
  • Online grocery store Localbanya expanded to Hyderabad earlier this month, after launching operations in Pune in February. The company now operates in Mumbai, Pune and Hyderabad, and plans to expand to other cities over the next few months.
  • The SRS Group forayed into e-commerce with the launch of its grocery vertical website, SRSgrocery.com in January. It currently caters to users in Gurgaon, Noida and Faridabad.
  • Last year in November, Reliance Industries’ retail arm Reliance Retail had launched an e-commerce store called RelianceFreshDirect.com to delivery grocery products in some neighborhoods of Mumbai. The platform sells vegetables, fruits, groceries, dairy products, confectionery products, packaged food and personal care products to the residents of Navi Mumbai, South Mumbai and parts of Thane.
  • Bangalore-based Delyver.com, which raised over Rs 6.5 crore from an unnamed VC fund in the city last December, connects offline retailers with customers in the neighbourhood and plans to expand to 20 cities this year.
  • Mumbai-based startup incubation platform AntFarm was to be merged with Meals on Wheels with its yet-to-be-launched grocery and essential products ordering platform Scootsy, in February. The combined platform would deliver cakes & confectionaries, groceries, gifts & flowers and essential electronics like phone chargers and spike busters among others.
  • BigBasket, which delivers in Bangalore, Pune, Mumbai and Hyderabad, raised INR 200 crores late last year.
  • Godrej Group’s Nature’s Basket acquired Mumbai-based online grocery store Ekstop.com in February.

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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