Ahmedabad-based grocery delivery startup Myonsto.com has raised Rs 2 crore in angel funding from Oswal Industries’ Director Jayant Bokadia. The startup will use the funds raised in upgrading technology and for expansion in Gujarat.
Launched in March this year, Myonsto is currently available for users in Ahmedabad only and unlike other online grocery startup it does not have any mobile app for mobile shopping of groceries. Myonsto offers about 7,000 products across grocery, fruits, vegetables, beverages and personal care, on its website.
To get deliveries, Mynonsto ask its users to place a minimum order of Rs.500. Another odd thing about Myonsto is where almost all grocery delivery companies are delivering items with zero delivery charges, Myonsto charges delivery fee of Rs.30 on orders of Rs.500 and above and it is free only on orders of Rs.1000 and above.
The startup is clocking average monthly revenue between Rs 1.5 lakh and Rs 2 lakh. “We are currently making a gross profit of 12-15% on an average,” said Sahil Dalal, the 24-year-old founder of Myonsto.
Notably, Myonsto is first e-grocery store in Ahmedabad and only online grocery store in the city until last month, Gurgaon-based Grofers launched its operations in Ahmedabad.
“Other e-grocery players are working on a pizza delivery format—they try to deliver the product at the quickest possible time. We are not,” said Sahil. “We focus on the quality of the products and services offered to the customers, rather turning ourselves into express delivery providers.”