Grab just grabbed up some serious dough. $1 Million to be exact.

Grab another Grub:

In the long list of food delivery start-ups, there’s one more that’s managed to attract independent investor Haresh Chawla and Oliphans Capital’s interest.. After Tapcibo, Tiny Owl and Swiggy, Grab formerly known as Grab a Grub is the latest in the ever growing food delivery segment to have scooped up a large investment.

This will enable Grab to expand their services to Pune and other cities in the near future. With this money Grab plans to deploy 800 riders in Pune, arming itself with the capability to deliver approximately 7000 orders across 700 outlets.

The Beginning:

It all started back in 2012, got together and decided to start a food logistics firm i.e. food delivery. Now, they work with over 350 restaurants in Mumbai and delivered orders worth Rs. 35 crore.

The Plan:

Speaking about the fund raise, Pratish Sanghvi said, “Home delivery orders are a significant portion of a restaurants turnover. However, the last mile delivery is a challenge for most restaurants. Grab uses technology to ensure the operational execution is seamless. While Grab reduces a restaurant’s delivery cost by converting it from fixed to a variable cost, it also allows it to expand its reach to a larger customer base.”

Grab, with a team of 500 smart riders on its rolls in Mumbai, ensure that the food is delivered in 40 minutes from the time a customer places an order at the restaurant.

The Road Ahead:

Grab has recently tapped into the tiffin delivery segment predominantly run by Mumbai’s famous dabbawallas. A deeper penetration into the city with the option of delivering tiffins even in the night has allowed Grab to bridge the gap.