Online Grocery Startup Localbanya Announces Funding and Expands to Pune

Image Caption: Localbanya

Image Caption: Localbanya

Mumbai based online grocer Localbanya announced its expansion into Pune on the back of a new round of funding received from Shrem Strategies in late 2014.

After a series of test runs in the beginning of February, the company became fully operational with effect from 20th of the aforementioned  month. Customers will be able to enjoy the same convenience offered to Mumbai users, including same day delivery.

Pune is the company’s first step forward in expansion. It is looking forward to open its branches in other major metros in the coming three months.

Commenting on Localbanya’s launch in Pune, Co-Founder, Rashi Choudhary said, “The launch of our services in Pune coupled with a fresh round of funding, sets us on our way to the next phase of our vision – taking brand Localbanya to as many Indian households as possible. We have gained a lot of experience here in Mumbai and feel this is the right time to expand our operations. If all goes well, we hope to be in 4-5 additional metros very shortly”.

The recent round of funding from Shrem Strategies comes on the heels of 2 earlier rounds from BCCL’s Springboard Fund and Karmvir Avant Infotech Pvt Ltd.

Localbanya was the first player to enter the online grocery market in Mumbai back in 2012. It currently lists over 14,000 products on its website and does 850 – 900 deliveries a day in Mumbai, with an average cart value of Rs 1400 per order.

The online grocery retail industry is an emerging area. Like Localbanya, startups such as  PepperTap, Big Basket,  Aaramshop.com, Zopnow.com and foodmandi.com, MyGrahak.com have already entered the market. To have a better insight into this sector, click here.

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