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Gurgaon based, Hyper-local delivery startup Grofers has acquired My Green Box, a smartphone-based grocery delivery platform. The amount of the acquisitions has been left undisclosed.
Saurabh Kumar, co-founder of Grofers, said, “We feel that our service, reach and user experience will continue to differentiate us. We are building depth in our grocery vertical through this acquisition. My Green Box is one of the leaders in the space in Delhi NCR with a proven team.”
My Green Box is also a Gurgaon based startup which was founded by Varun Khurana. As per the company, it had raised some funding in past.
Number of ecommerce companies have been aggressively looking to tap the grocery space since past few months. Just yesterday, news of Flipkart planning to venture into grocery space had sufficed in media. While, just recently, Amazon had tied up with mom and pop stories called KiranaNow, and is piloting express delivery options.
Varun Khurana, founder of My Green Box, said, “We saw Grofers becoming a frequent use case for customers as they were using the app to order across categories. This is building great confidence in consumers to start ordering consumable items as and when they need them.”
Grofers was Co-Founded by IIT graduates Albinder Dhindsa and Saurabh Kumar in 2013, it is an on-demand delivery startup that delivers items. The company claims to provide 90-minutes delivery of product.
Grofers has recently raised $10 Mn in funding led by Tiger Global Management and existing backer Sequoia Capital India. The company is valued at $33Mn and claims to process over 700 customer orders a day across Delhi NCR and Mumbai and recently it has expanded operations in Bangalore. On the other side, My Green Box currently process on average 200 orders every day in Gurgaon.
In the grocery space, recently, number of startups have been able to raise funds, these include Mumbai-based Localbanya raising funding round led by Shrem Strategies, PepperTap, a hyperlocal grocery delivery service platform got funding from Sequoia Capital, BigBasket had raised $15 Mn from Bessemer Venture Partners, Freshworld has raised funding from Kris Gopalakrishnan & IAN. Also, recently Godrej Nature’s Baskethas acquired Mumbai-based online grocery store, Ekstop.com.
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