Investments, Startups

Grab – a Food Logistics Startup Raises $1M to Fuel its Growth

grab food delivery

Image Source: The Next Web (formerly Grab a Grub) a food-logistics firm recently raised $1 million from Oliphans Capital and independent investor Haresh Chawla. The funding will enable Grab to expand in new markets like Pune and others in the near future. The company plans on deploying 800 riders in Pune enabling it to deliver approximately 7000 orders daily across 700 outlets.

The startup was founded by Jignesh Patel, Nishant Vora and Pratish Sanghvi in 2012. Grab, with a team of 500 smart riders on its rolls in Mumbai, ensure that the food is delivered in 40 minutes from the time a customer places an order at the restaurant. Grab’s smart riders are connected and trackable in real time with Grab’s mobile app, similar to the ones used by cab aggregators. At any given point of time, a restaurant using Grab’s services will be able to track and share precise delivery time with the customer.

At present the startup works with over 350 restaurants in Mumbai and have now launched its services in Pune. Last financial year, it delivered  orders worth Rs 35 crore in Mumbai. It recently also tapped into the tiffin delivery segment predominantly run by Mumbai’s famous dabbawallas.

Nishant Vora, Co-founder, Grab “While online food ordering is catching the customer’s attention, it’s the restaurants that eventually take care of the final delivery. Hence, we do not face competition from the online food ordering vertical. Hyper-local logistics remains our forte and our focused attention on its execution is Grab’s biggest strength”.

Grab’s clients include Mainland China, Subway, Smokin Joes, Punjab Grill, Sbarro, Cocoberry, Pesca Fresh, Maroosh, Birdys, Theobroma, Busago, Cafe Mangii, Torrp it Up, Zaafran, and many more.

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