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Bangalore-based grocery delivery startup Town Essentials has raised $1 Mn (about INR 6.7 Cr.) in a fresh round of angel funding from a cluster of high-net-worth individuals, reported ET.
The round was led by Infosys’ first non-founder employee Sharad Hegde; former Workday executive Girish Reddy; Siddharth Patil, head of data science at the TellApart division at Twitter; and existing investor Shrikant Patil.
Till date, the company has raised roughly $2 Mn (INR 12 Cr.) including this round.
Founded in 2003 by Amar Krishnamurthy, Town Essentials, is a one-stop solution to order grocery online. Users can surf through company’s online catalogue and place their order or dial their (company’s) in-house call centre to place an order.
With a staff strength of 120 and with 10 years of experience in this field, the staff help in sourcing garden fresh produce at wholesale prices.
Town Essentials will use the raised funds for marketing activities. “We will make our basket of private labels stronger by adding new products, improve back-end manufacturing and spend on advertising,” said Amar Krishnamurthy, founder & CEO of Town Essentials.
Currently, the company gets about 200 orders a day in Bangalore.
Recently, Town Essentials has also launched a new platform called Morning Drop focused for subscription-based products such as milk, bread and eggs. Besides, it also plans to ramp up customer base to about 10,000 and launch a mobile app for customers.
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