RedMart.com, a Singapore based online grocery service, plans to foray into India with a development center in Bangalore to push the technology side of its operations. To initialize this move, currently the company is hiring engineers in India.
Recently, it had raised USD 23 million in Series B and then it announced that the fresh investment will be used to boost operational capacity for future growth. Earlier, this year, the firm had secured USD 5.4 Mn in a Venture round funding. Till date, the comapny having a total capital of USD 28.4 million in 5 rounds from 11 investors.
The new Bangalore center is expected to be “analytics hub for data-oriented decision-making. It will provide next-generation optimization algorithms for key business processes,” the company announced in an official statement. “Tapping the local talent will give us an opportunity to build a high performance team, enable us to work on disruptive technologies, and be part of an exciting working atmosphere,” Sanjeev Bijapur, head of RedMart’s India operations, added, reports TechinAsia..
Founded in October 2011, RedMart.com is an initiative of Roger Egan and two entrepreneurs of Indian origin, Vikram Rupani & Rajesh Lingappa. The portal offers competitive prices on a wide range of groceries and household essentials with the convenience of online ordering and home delivery 7 days a week.
Currently, it is offering around 4000 products across categories such as Food Cupboard (which includes groceries, snacks, etc.), Beverages, Alcohol, Baby, health & beauty, Household and Petcare. The company has its own fleet of delivery vans.
Previously, the company had raised undisclosed amount of funding in three rounds including two seed rounds in December,2011 & March 2013 and Series A round in July 2013.
A few months back, Rakuten has opened a global unit called the Rakuten India Development and Operations Center (RIDOC) in Bangalore, the development centre would focus on operations, processes and resources.