Business
Online Delivery Service Satvacart Scores Seed Round Funding
Online grocery delivery service Satvacart has secured a seed round funding led by Palaash Ventures and a few other angle investors including Ex-Managing Director of a leading PE fund.
In the statement released, the company also confirmed that they have brought in 3 advisors namely Arvind Gupta – Head, Digital India Foundation, Vijay Shukla – Managing Partner, Setu Ventures and Pushpinder Singh – Founder, TravelKhana.
The Plan:
Satvacart plans to use this funding to scale up operations, customer acquisition, building a strong team to augment technology and support growth. They will also be developing a replicable business model.
The Start:
Satvacart launched in January 2015 and claims to have a selected assortment of over 4000 products across categories such as grocery, fruits and vegetables, personal care, household essentials and baby care. Satvacart offers delivery across 5 different time slots to enable busy professionals purchase all their grocery supplies during the weekdays, so that they can save their weekends from standing in long queues and surfing grocery aisles.
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