failed to fructify. According to the TOI report, the recent capital infusion of $5 million has given the company a new lease of life and is negotiating over the valuation of the company.
The company serves over 130,000 households and fulfills needs of an entire household with 9,000 products across fruits and vegetables, dairy, bakery, and other FMCG categories. It is currently operating in Gurgaon, Noida, Dwarka, Ghaziabad, Hyderabad, and Bengaluru.
has witnessed a 2.2 to 2.5 times increase in average order value across 130,000 active user base while it has been onboarding 500-1,000 new signups on a daily basis since the lockdown. This comes as Covid-19 has given a fillip to e-commerce firms as more consumers have shifted to ordering groceries online. According to Forrester Research, India’s online grocery market could hit $3 billion in sales this year, an increase of 76 per cent over the previous year.
Apart from the two companies, the Mukesh Ambani led conglomerate is also in talks to acquire e-pharmacy startups like Netmeds and lingerie retainer Zivame as it aims to consolidate with Future Retail.