BigBasket has acquired logistics startup Delyver in a cash-and-stock transaction to bolster its capacity to deliver fast and compete with agile players in the segment like Grofers, PepperTap and LocalBanya. BigBasket will employ Delyver deliver orders in 90 minutes.
The value of the transaction between both the startups which are backed by serial entrepreneur and investor Krishnan Ganesh has not been disclosed.
Hari Menon, CEO, BigBasket, commenting on the matter maintained, “We will retain the brand name and use their two-wheeler fleet to do hyperlocal deliveries across all cities.” Further he also confirmed that all 300 employees of Devlyer will be retained by BigBasket.
“Nothing changes on the ground for us. While we facilitate BigBasket with the hyper-local deliveries, we will scale our business to other cities as well,” said Delyver Co-founder Varghese who added that the company will continue to run as “an independent entity”, reports ET
Of late,the hyper-local avenue is witnessing a surge of innovations as more and more players are entering the field. With technology snowballing and advancing to higher levels, the scope for these players is rendered wide open. In fact, the potential of this segment is estimated to be so high that even the big fish in the market have registered themselves to compete. While Amazon India has already made an entry into the Indian market with its Kirana Now, Ola has started its pilot project to deliver groceries.