Localbanya enters tie-up to improve technology; New entrant VeggyKart raises more money

Editor | Sep 09, 2020

A lot is happening in the e-grocery space. Established as well as recent entrants are trying their best to systematize the highly scattered online grocery space and bring in more profits. Be it multinationals coming in, getting more funds, offering quick delivery or forming strategic partnerships, modern baniyas are doing it all.

Here are two fresh news updates from the online grocery corner.

Localbanya joins hands with Vinculum Solutions

In order to scale up and serve more cities across the country, Localbanya has been using its funds to improve technology and forming strategic tie-ups. Partnering with the software company, Vinculum Solutions is one such move. The software company provides solutions & back-end support including inventory management, warehousing, order fulfilment and reverse logistics to etailers as well as traditional retailers.

New entrant VeggyKart looking to raise Rs 26 crore

Gurgaon based VeggyKart is expecting to raise Rs. 26 crore in the series A of funding. The e-grocery’s co-founder and Chief Executive, Ravi Pahuja revealed that the first round of venture capital funding will wrap up by the end of this month and four investors are part of this financial negotiation. The two months old company plans to utilize the funds for getting more customers and increasing their reach.

From a distance the online grocery segment looks crowded. But for now it is present only in handful of metro cities and accounts to a nominal percentage of the total retail sales. Hence, with a growth rate of 25-30%, it still can accommodate more investors, new players, tie-ups and transactions.

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