Grofers, the Sequoia and Tiger global backed hyper-local delivery platform has acquired My Green Box, a smartphone based grocery delivery platform. The financial details about the deal have not been disclosed.
Grofers was founded in 2013 by Albinder Dhindsa and Saurabh Kumar with an aim to build a whole new market segment of online local shopping and on-demand logistics. The company recently raised a massive $10 Million round from Sequoia and Tiger Global taking its total funding numbers to over $10.5 million in two funding rounds.
Saurabh Kumar, co-founder of Grofers, said,
We feel that our service, reach and user experience will continue to differentiate us. We are building depth in our grocery vertical through this acquisition. My Green Box is one of the leaders in the space in Delhi NCR with a proven team.
My Green Box is also a Gurgaon based start-up founded by Varun Khurana with an aim to make it simple, leveraging the power of technology and smartphones to deliver groceries to customer’s doorstep, so that they can spend time doing better things in life. It has also raised funding.
Grofers, which now markets itself as a horizontal market place, says that MyGreenBox acquisition would “add depth to Grofers’ grocery vertical” and bring on board the customers of MyGreenBox onto the wider Grofers platform. The 15-member team of MyGreenBox has been brought in at Grofers with Varun Khurana (Founder of MyGreenBox) now acting as the CTO of Grofers.
The hyper-local delivery model and grocery space is a rapidly surging field in India. The domain has also been garnering the attention of online commerce players. Recently, Amazon launched KiranaNow and is experimenting express delivery with 2-4 hours.
Many startups in the hyper local delivery space have raised substantial amount of funding. Some maajor players in this space include Localbanya, PepperTap, BigBasket and Freshworld.
