Satvacart, Gurgaon Based Online Grocery Startup in Talks to Raise $10M
Bengaluru, INDIA | Red Newswire | Sat, Nov 07 2015. 11:30 PM IST.
Satvacart is another in the line of grocery startups and has already reached its third round of funding. The online grocery startup is looking forward to raise $10 million with PE funds and other venture capitalists. The Gurgaon based startup will go for geographic expansion with series A funding.
Rahul Hari, CEO of Satvacart said, “We are extremely happy with the closure of angel round 2, which involved our old investors as well as HNIs as new investors. In times when there are talks of funding getting dried up, second angel funding highlights the confidence of investors in Satvacart’s business model.”
Hari further added, “The Series A funding, to be raised shortly, will be used for geographical expansion. We are on track with our business mantra – Controlled expansion with eye on profitability through operational excellence resulting in high customer satisfaction.”
Satvacart currently offers over 4,000 products and has more than 5000 customers in Gurgaon itself. The company plans to expand the operations in Delhi too.