Bangalore-based online grocery retailer BigBasket has acquired hyperlocal delivery startup Delyver in a cash-and-stock deal in a bid to strengthen its delivery mechanism in all the 50 cities it is currently operational in.
The financial terms of the deal has been left undisclosed for now.
Based out of Bangalore and founded in 2010 by IIM Lucknow graduates Afsal Salu, Praful Thachery and Reebu Varghese, Delyver connects offline retailers in a neighborhood with customers from the same neighborhood. In other words, Delyver is a neighborhood marketplace which claims to deliver of products within one hour. The company had raised over $1 Mn in a funding round last year in November.
Delyver claims to deliver products in 90 minutes and it directly competes with other hyperlocal delivery startups including Grofers, Peppertap, ZopNow.
VS Sudhakar, Hari Menon, Vipul Parekh, VS Ramesh and Abhinay Choudhari founded BigBasket. The startup is backed by LionRock Capital, Ascent Capital, serial entrepreneur K Ganesh’s startup factory GrowthStory and others.