Jupiter Capital-backed online hypermarket UrDoorstep.com has raised a bridge round of Rs 3 crore from CP Murali, former President and Chief Operating Officer of telecom software-maker Aricent Technologies. The company incorporated in October, 2015, plans to cover 92 pincodes for Bengaluru city over the coming two months and aims to have a pan-India presence in the next six months.
“We make gross margins of 17-18% across categories and try to deliver our private labels processed just-in-time. For food and essentials, digital channel is a game-changer,” says Dinesh Malpani, Founder of UrDoorstep.com who was previously associated with Mahindra Retail.
The startup sources fresh produce from a network of 9,000 farmers it works with and claims to have average ticket size of Rs 1,200 per transaction. The inventory based model followed by the company is serviced by its mother warehouse and it competes in a space which counts players like BigBasket and Grofers in it.
The company had raised $4 million from Rajeev Chandrashekhar-backed Jupiter Capital in 2015 and plans to raise a Series A round ahead of its nation-wide expansion.
Source: The Economic Times
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