Neighbourhood community buying platform Grohood raises undisclosed funds from IAN
- ByStartupStory | July 19, 2022
Grohood, a Neighborhood community buying platform, raised an undisclosed amount in its pre-seed round from Indian Angel Network (IAN). The firm will use the capital to build its team and enhance its technological capabilities within the supply chain. The firm also has 3 patents and a unique supply chain solution, Grohood is enabling Zero Packaging, Zero Wastage and Zero Warehouse in delivering fresh perishables to consumers.
Prem Chand, co-founder of Grohood stated, “At Grohood, we are passionate about enabling suppliers to provide just-harvested/produced fresh, mostly perishable items to 300 million urban families daily at a genuine price with bulk buying advantages without any storage. Current fund utilization would be to launch Grohood platform service for the entire Bangalore and make replicas ready for another Tier1 city.”
Padmaja Ruparel, co-founder of IAN said, “Bringing the native fresh, just-harvested perishable items to your community pickup point at a locally competitive price is a promising business model. As an emerging e-commerce model, community group buying improves the bargaining power of consumers. We are delighted to back a startup which is working on the sustainable model, and may help in minimizing the impact of the business operations on the environment.”
About Indian Angel Network:
Indian Angel Network is India’s first and world’s largest business angel network. With investors from 12 countries, IAN’s presence spans 7 locations including India and the UK. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, SaaS, agri-tech and others. With this, IAN has created the single largest platform for seed and early-stage investing, enabling entrepreneurs to raise from Rs. 25 lakhs to Rs. 50 crores.
About Grohood:
Grohood is a tech startup founded in 2021, that provides a community buying platform for customers and suppliers, mostly for perishable items. The platform uses a unique proprietary solution for non-impulsive buyers. Presently serving more than 14 residential societies in Bangalore, Grohood has an expansion plan within Bangalore and further in Tier 1 cities like Mumbai.
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