grab funding

grab funding

Mumbai-based online food ordering and delivery startup – Grab, has now secured $1 million in seed funding from Oliphans Capital and Haresh Chawla, former CEO of Network18.

Grab (formerly Grab a Grab) is a hyper local delivery service focused on restaurants and food enterprises which have a team of 600+ riders across Mumbai & Pune who are connected via a technology platform that enables a speedy pickup & delivery of orders.

With this funding, the startup is looking to expand its service to other markets along with an expansion of team. It recently started operations in Pune. And even though the delivery model looks capital intensive, Grab claims to have processed orders worth over Rs. 35 crores.

Its major clients include Mainland China, Subway, Smokin Joes, Punjab Grill, Sbarro, Cocoberry, Pesca Fresh, Maroosh, Birdy’s, Theobroma, Busago, Cafe Mangii, Torrp it Up and Zaafran.

The company was founded in 2012 by Jignesh Patel, Nishant Vora and Pratish Sanghvi. Patel is director of operation and quality control while Vora looks after operations and human resource; Sanghvi is in charge of business development, finance and technology. Before founding this venture, Patel was working with Century Electronics, Sanghvi worked with BlackRock in the US for seven years while Vora was involved with his family business after completing his education.

Recently, ZopNow raised $10 Mn to expand to 15 more cities. Peppertap raised $10 Mn in funding to build a highly-skilled team and expanding to 10 more cities in the country. In February, Grofers had also raised $10 Mn in funding from Tiger Global & Sequoia Capital.

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