Gurgaon-based online grocery ordering app, BigZop is in final talks to raise $600,000 in its seed funding round for expansion to more areas in north India and even in eastern parts of the country by the end of this year. The investors are based in Delhi and Bengaluru, but their names are still undisclosed.
The startup was launched in June 2015 by IIT Kharapur alumnus Aaditya Goyal, Mayank Bana and Subhajit Ray. It offers items from categories ranging from fruits & vegetables, grocery, beverages, personal care, household and dairy. The company claims to be processing 100+ orders per day for the last two months.
“We are raising the money as we are looking for expansion to Noida, Faridabad and Ghaziabad in Delhi-NCR. Besides, this fund will help us to enter the markets in Chandigarh, Jaipur and Lucknow. In the East, we want to set up our operations in Kolkata,” said Aaditya Goyal.
In the past few months, the hyperlocal grocery space has attracted a lot of investors’ attention with players like Grofers, Peppertap, LocalBanya, Myonsto, iOrderFresh among others giving each other a cut throat competition. Most of them have already raised funding to fuel their growth strategy. One of the earliest startups in this space -BigBasket, earlier this week, raised $50 million in a new round of funding led by Bessemer Venture Partners at $400 million valuation to expand into 50 more Tier-II cities.