Welcome Guest

Businessex.Com
Home News Food start-up Grab raises fund from Oliphans Capital and Haresh Chawla

Food start-up Grab raises fund from Oliphans Capital and Haresh Chawla

Tags: Grab, food start-up, Oliphans Capital, Haresh Chawla, restaurants, logistics

April 28, 2015 | COMMENTS ( 0 )

Food start-up Grab raises fund from Oliphans Capital and Haresh Chawla

Mumbai based food delivery start-up Grab.in has rasied $1 million from Oliphans Capital and Haresh Chawla (former CEO of Network 18).

Grab founded by three partners, Jignesh Patel, Nishant Vora and Pratish Sanghvi, has emerged as a leader in last mile delivery for restaurants & enterprises across Mumbai. This round of funding will enable Grab to expand in markets such as Pune, Delhi, Chennai and Bangalore. Grab aims to use technology for a seamless kitchen-to-delivery process while reducing client overheads and enhancing customer experience.

With 250 plus riders across Mumbai, Grab delivers orders worth over Rs 24 crores annually, this number is projected to cross Rs. 75 crores over the next year.

“Last mile logistics is the biggest pain point for restaurants and other enterprises in India. Grab is here to provide a unique technology-backed solution that not only increases the clients revenue but also reduces their cost” said Pratish Sanghvi, co-founder of Grab, who along with Nishant has witnessed similar models evolve during their stints at BlackRock (USA) and Toyota (Canada) respectively.

Commenting on the investment in Grab.in , Anish Jhaveri, Partner, Oliphans Capital,  said, “ We are excited about the food delivery space & the opportunity the nascent market offers .  Grab.in has been very successful in its scale up and have a great team in place. With the new capital , Grab.in will be able to enhance the technology and reach. Our investment philosophy has always been to invest in businesses which are simple to understand, a great team with hunger to execute and visible cash flows.”

Oliphans Capital promoted by ex-investment bankers Anish Jhaveri and Mohit Gulati, has been successful in incubating entrepreneurs and aiding their growth to the next level. Oliphans capital is a unique venture capital or early stage investor which provides both debt and equity to budding entrepreneurs. Amongst its investments are DEN Networks, BVG India, Ecom Express, Online RTI and Local Banya.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....