India is one of the fastest growing country in the world. Be it in terms of business, innovative ideas, startups you name it. Expansion of startup community has attracted investors, accelerators, major companies etc. GreenHouse Ventures Accelerator which is Gurgaon-based has selected the maiden startup for its accelerator programme.
Each selected startup will get seed funding of up to $100K in exchange for equity up to 20%.
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The startup selected is Gurgaon-based LazyLad. The company connects customers with nearby and local retailers who can upload and update their inventory on the platform. It helps in organising the unorganised shopping complexes which are present in customers near by locality. On this development, Vikram Upadhyay, Chief Mentor at GHV said ,”Frugality is what impressed me the most in this model.” Saurabh Singla, co-founder of LazyLad said the GHV will help them with go-to market strategies, product development and industry connects helping them further expand their reach.
The startup was launched by three IIT Guwahati graduates- Saurabh Singla, Paresh Goel and Ajay Sethi. The company claims that in just a month of operation, it has got 1700 downloads and 25 orders a day. The app promises delivery within 90 minutes as well as real time order status tracking. The company has 70 service providers on its network across six categories namely groceries, fruits and vegetables, bakery, seafood, stationery and flowers. It plans to expand this to 16 categories.
After Ecommerce and Mcommerce, N(Neighbourhood) Commerce provides a platform to retail stores enabling them to retain, increase their share of market. Customers get a taste of e-retailing and products from their near by stores. India needs such innovations all across sectors.