Subscription Based Delivery Startup, RainCan Raises Rs 1.75 Cr in Pre-Series A Funding

Raincan, a Pune-based subscription startup for delivery of fresh and perishable items, has raised Rs 1.75 crore in pre-series A funding.

The company has raised funds from Prabodh Agarwal, Group CFO, IIFL Holdings Limited and existing investor Dr. Aniruddha Malpani. The company plans to use the funds to expand its delivery operation centers and set-up start of the art logistics platform to facilitate deliveries at the lowest possible cost.

Founded in June 2015 by IIT-Bombay graduates Munendra Singh and Abhijeet Kumar, RainCan is a subscription-based service provider dealing in dairy, meat, bakery, fruits, and vegetables largely. The company delivers around 6000 orders daily in Pune and has crossed Rs 10 crore in revenue and is currently witnessing a growth of 15% every month.

RainCan is inspired from existing milk subscription and delivery supply chain. They deliver ultra-fast moving products with low shelf life to the customer's doorstep with deliveries starting at 5 am through an in- house delivery team of 60.

"RainCan delights customers by helping them buy small and buy fresh, so that family members can start their day with a healthy breakfast first thing in the morning. We deliver convenience cost effectively. We help busy Women come out of the fear of missing an item for breakfast and lunch by delivering milk and other fresh produce early morning. They can buy a dozen eggs, a tender coconut or as little as a few lemons, " said Abhijeet Kumar, Co-Founder, RainCan.

The use of technology and optimized logistics team as deliveries are concentrated in nature help keep cost of delivery to under Rs 2. The company has been a capital efficient start-up turned with operational excellence using wide array of technology and analytics platforms. It has been operationally profitable since September 2016.

“We are one of the most capital efficient startup in India in likes of redbus and bookmyshow. Subscription customer base provides the stable revnenue and always upward trajectory. The growth of RainCan is propelled by opening new delivery centers in different locations within a city, each center delivering to specific population. We aim to take the current 4 centers to 20 in Pune and Mumbai with positive cash flow in next few quarters," said Munendra Singh, Co-Founder, Raincan.

RainCan is also in talks with VCs to raise 10 Crore to achieve 50,000 subscriber base and 100 crore annual revenue.

Current Investor Prabodh Agarwal said "Selling fresh produce online is still in its nascent stage, and the service is expected to grow exponentially in the coming years, as more customers discover its convenience. RainCan has built a business model with good unit economics. With proper capital backing, it has the potential to satisfy many more customers."

In August 2015, Raincan raised $100K in seed round from angel investor Ajeet Khurana & others, and in April 2017, the startup had received an additional round of Rs. 1 crore from a primary investor, Dr. Aniruddha Malpani.

Subscription Based Delivery Startup, RainCan Raises Rs 1.75 Cr in Pre-Series A Funding

Raincan, a Pune-based subscription startup for delivery of fresh and perishable items, has raised Rs 1.75 crore in pre-series A funding.

The company has raised funds from Prabodh Agarwal, Group CFO, IIFL Holdings Limited and existing investor Dr. Aniruddha Malpani. The company plans to use the funds to expand its delivery operation centers and set-up start of the art logistics platform to facilitate deliveries at the lowest possible cost.

Founded in June 2015 by IIT-Bombay graduates Munendra Singh and Abhijeet Kumar, RainCan is a subscription-based service provider dealing in dairy, meat, bakery, fruits, and vegetables largely. The company delivers around 6000 orders daily in Pune and has crossed Rs 10 crore in revenue and is currently witnessing a growth of 15% every month.

RainCan is inspired from existing milk subscription and delivery supply chain. They deliver ultra-fast moving products with low shelf life to the customer's doorstep with deliveries starting at 5 am through an in- house delivery team of 60.

"RainCan delights customers by helping them buy small and buy fresh, so that family members can start their day with a healthy breakfast first thing in the morning. We deliver convenience cost effectively. We help busy Women come out of the fear of missing an item for breakfast and lunch by delivering milk and other fresh produce early morning. They can buy a dozen eggs, a tender coconut or as little as a few lemons, " said Abhijeet Kumar, Co-Founder, RainCan.

The use of technology and optimized logistics team as deliveries are concentrated in nature help keep cost of delivery to under Rs 2. The company has been a capital efficient start-up turned with operational excellence using wide array of technology and analytics platforms. It has been operationally profitable since September 2016.

“We are one of the most capital efficient startup in India in likes of redbus and bookmyshow. Subscription customer base provides the stable revnenue and always upward trajectory. The growth of RainCan is propelled by opening new delivery centers in different locations within a city, each center delivering to specific population. We aim to take the current 4 centers to 20 in Pune and Mumbai with positive cash flow in next few quarters," said Munendra Singh, Co-Founder, Raincan.

RainCan is also in talks with VCs to raise 10 Crore to achieve 50,000 subscriber base and 100 crore annual revenue.

Current Investor Prabodh Agarwal said "Selling fresh produce online is still in its nascent stage, and the service is expected to grow exponentially in the coming years, as more customers discover its convenience. RainCan has built a business model with good unit economics. With proper capital backing, it has the potential to satisfy many more customers."

In August 2015, Raincan raised $100K in seed round from angel investor Ajeet Khurana & others, and in April 2017, the startup had received an additional round of Rs. 1 crore from a primary investor, Dr. Aniruddha Malpani.

Subscription Service Startup RainCan Raises An Additional Round of Rs 1 Cr From Aniruddha Malpani

After raised $100K seed round in Aug 2015 from angel investor Ajeet Khurana & others, subscription based startup for daily needs, RainCan has now raised an additional round of Rs. 1 crore from a primary investor, Dr. Aniruddha Malpani.

Pune-based RainCan is a subscription based prepaid solution that provides daily essentials, especially perishables, to customers on a prepaid subscription basis.

The startup's main range includes: dairy, bakery, fruits, & vegetables. The company is currently doing approximately 2000 orders a day from delivery centers in Pune. One way in which RainCan is different from other players in this space is that logistics and operations are completely owned by RainCan.

The startup consists of a team of 30 people in Marketing, Operations and Technology. It was founded by IIT Bombay graduates Munendra Singh and Abhijeet Kumar in June 2015. Abhijeet has worked earlier on startups like Kisanbandhu and BITSATRACE. Before starting RainCan he was working as Forecasting and Supply Planning Architect for major FMCG companies across the globe. Munendra has worked earlier on Bloomskart (with Abhijeet) where he was growing exotic vegetables and flowers (in Rajasthan) and selling to major wholesale markets across north India. He has also worked as part of the Investments team at ICICI Prudential Life Insurance and Deutsche bank in past.

RainCan has launched its app for Android users. The app is designed to add value at both ends of the chain: Distributor & Customers. The startup claims that with its excellent customer support, it provide multiple channels of engagements like RainChat, Whatsapp, Call etc to answer customers' queries. Customer satisfaction being the startup's foremost priority, it always strive for excellence in serving customer’s growing demands.

Subscription Service Startup RainCan Raises An Additional Round of Rs 1 Cr From Aniruddha Malpani

After raised $100K seed round in Aug 2015 from angel investor Ajeet Khurana & others, subscription based startup for daily needs, RainCan has now raised an additional round of Rs. 1 crore from a primary investor, Dr. Aniruddha Malpani.

Pune-based RainCan is a subscription based prepaid solution that provides daily essentials, especially perishables, to customers on a prepaid subscription basis.

The startup's main range includes: dairy, bakery, fruits, & vegetables. The company is currently doing approximately 2000 orders a day from delivery centers in Pune. One way in which RainCan is different from other players in this space is that logistics and operations are completely owned by RainCan.

The startup consists of a team of 30 people in Marketing, Operations and Technology. It was founded by IIT Bombay graduates Munendra Singh and Abhijeet Kumar in June 2015. Abhijeet has worked earlier on startups like Kisanbandhu and BITSATRACE. Before starting RainCan he was working as Forecasting and Supply Planning Architect for major FMCG companies across the globe. Munendra has worked earlier on Bloomskart (with Abhijeet) where he was growing exotic vegetables and flowers (in Rajasthan) and selling to major wholesale markets across north India. He has also worked as part of the Investments team at ICICI Prudential Life Insurance and Deutsche bank in past.

RainCan has launched its app for Android users. The app is designed to add value at both ends of the chain: Distributor & Customers. The startup claims that with its excellent customer support, it provide multiple channels of engagements like RainChat, Whatsapp, Call etc to answer customers' queries. Customer satisfaction being the startup's foremost priority, it always strive for excellence in serving customer’s growing demands.