VeggyKart’s Raising Plans

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E-Commerce in today’s day and age is a substantial and trending platform. Seeing as today anything and everything one wants can be brought online. Everything from clothes to shoes to furniture to medicine and even groceries can be brought through a click on your computer. Speaking of such online ventures one recently launched online grocery start up is VeggyKart.com It is presently doing business in Gurgoan, it started working around 2 months with a seed funding of about 2 crores.Chief Executive and Co-founder of VeggyKart.com Ravi Pahuja says that they plan to use the proceeds from said capital to expand their market outside of Gurgaon.Within the next two months they are considering expanding their services to the Delhi-NCR region and soon after in other North Indian markets.VeggyKart.com is said be in talk with four anonymous investors to raise an amount of Rs.26 crores. It is anticipating to acquire the Series A funding i.e. the first significant round of venture capital funding, by the end of this month.VeggyKart.com has its eye set on accomplishing a target of 2000 orders per day once it commences business in Delhi-NCR.What sets VeggyKart.com apart is that within three months’ time it plans to become a market place for online groceries says Pahuja. How this system works is that along with their own produce the site will also become a virtual marketplace for the local retailers. This gives the buyer the power to choose.This partnership with the locals is bound to create more business for VeggyKart.com.It plans to earn a commission on every order placed on the site.Once everything is setup it has been decided that all the present-day deliveries will be taken on by the partner retailer and the rest by VeggyKart.com.This method is ideal as it saves both warehouse space and cost for the company.In a fast-paced country like India online groceries have already become quite popular. So, there have been lots of investors who are showing interest in online groceries. Companies such as BIgBasket.com are already a popular name here. Bengaluru based ZopNow and Gurgaon’s PepperTap recently raised around Rs.63.5crocres from San Francisco based Dragoneer Investment Group and SAIF and Sequoia Capital respectively.Another Gurgaon based company named Grofers raised $35 million from Tiger Global and Sequoia Capital in its 3rd fundraising all in one year.Traditional retailers make only up to 2% of the total grocery sales in India. As per one of India’s leading consulting firms in the field of retail Technopak,the online grocery marketing system is growing at 25-30% in the metropolitan areas. Market Analystssay, this continuous boom is the reason why investors and entrepreneurs are vying to be a part of this field.

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About the Author

Raksha Shetty
A Bachelor of Mass Media by Education and an avid learner by passion. Excited about startup ecosystem, she chose to live the life of an entrepreneur. She is currently the Editor at IdeapreneurIndia.com