HyperLocal Mobile Commerce Startup LazyLad Joins GHV Accelerator; Raises $100,000 in Seed Funding

Image Source: GooglePlayStore

Image Source: GooglePlayStore

Gurgaon based GreenHouse Ventures Accelerator (GHV) has selected the first startup for its accelerator programme. Mobile startup LazyLad that helps create a direct platform for local retailers to sell to customers has secured seed money of $100,000 along with the induction into GHV.

The team of three IIT graduates Co-founders – Saurabh Singla, Paresh Goel, and Ajay Sethi. LazyLad, which has not raised any outside funds as of date, plans to raise $1 million to fund their plans of providing their services in the metros of India.

Through its app the customer has a direct access to neighborhood retailers in six segments – bakery & confectionery items; flowers; fruits & vegetables; daily groceries; meats & seafood and stationery. It is available for Android users only (the iOS version is due in June and the Windows version due later during the year). In a year’s time, the company plans to add 50K sellers, 0.5 million downloads and 80K+ orders/day.

Apart from forging ahead with their plans to provide the service across India, they are also exploring the possibility of launching the app in other developing countries like Indonesia, and South Africa. Currently their global expansion plan is to launch in at least 10 to 12 countries in the next 3 years.