The online grocery market in India is set to grow in leaps and bounds. It certainly is set to become the next multi-billion dollar market in the coming 5 years.
Mumbai based Localbanya is the niche player in this segment. After Mumbai, this e-tailer has just entered Pune and plans to add 10 cities by the year end, informs, Rashi Choudhary – COO and Co-founder, LocaBanya.com.
Speaking further, she adds, This year will be pivotal for brand Localbanya. “After being in operation for close to three years in Mumbai, we feel now is the right time to take our brand to other cities. The effort that goes into setting up operations is tremendous and we will only take that leap once we are confident about delivering the service standards we promise.
We hope to be in 12 cities by the end of this year.”
She also informs that Localbanya is shipping close to 900 deliveries on daily basis in Mumbai only.
Founded in 2012, LocalBanya has raised $5 million from the Mumbai-based real estate developer Karmvir Avant Group last year. In 2013, it raised an undisclosed amount from Bennett Coleman & Company Limited’s Springboard fund. Prior to this, the company also received angel funding from a few investors.
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