The Bengaluru – based, online grocery delivery startup urDoorstep has raised Rs. 10 crores in a bridge round of funding. A high – net – worth individual (HNI) has invested Rs. 5 crores on the startup and an equal amount has been taken as a loan form Lakshmi Vilas Bank. Overall the startup, urDoorstep has raised Rs. 10 crores funds. Four months earlier, the same startup had raised Rs. 2 crores funds from HNIs like CP Murali and Rajeev Chandrashekhar. “With the current round, we will be expanding to new pin codes in the city. We are eyeing Ebitda breakeven by first quarter of 2017-18. We are doing this by managing cost of customer acquisition and logistics cost”, said Dinesh Malpani, founder of urDoorstep. Read more on Grocery Delivery Startups
The startup, urDoorstep, supplies produce (vegetables and fruits), supplied to it by nine thousand farmers across India, to various households in Bengaluru on demand. The supply of some vegetables may be affected by the seasons in India. The startup only serves the city of Bengaluru at present. It supplies vegetables and fruits to various customers in Bengaluru from its 3,000-square-feet fulfilment center in Bengaluru. urDoorstep’s main competitor is Big Basket, which serves over 47,000 customers per day in each of the cities in India.
Doorstep grocery delivery is a fast – growing sector in India. Now that many of Indian citizens are employed in big IT companies and are earning well, they do not have the patience and time these days to go to a particular vegetable market and buy fruits and vegetables. Most of them prefer to have groceries delivered to their doorsteps. This has given a big business opportunity to grocery delivery startups like urDoorstep. The startups in India are innovative and provide essential services to the society. They just need help in the form of funding, mentorship and incubation to help them grow and become an MNC. In that aspect, it is good to hear that the online grocery delivery startup, urDoorstep has managed to secure funds through HNIs and banks. We can bet that it will develop its business and become an MNC in the future. Read more on Startup News