Quick Commerce Startup 'KiranaPro' set to close its Seed Funding round
With the launch of KiranaPro, a platform that allows nearby kirana shops to provide lightning-fast delivery, Deepak Ravindran has made a comeback as an entrepreneur. According to two people with knowledge of the transaction, the firm is also approaching the end of its seed fundraising round.
According to the sources, "Unpopular VC will lead the round, with participation from Blume Ventures, Snow Leopard, and a few angels”.
The goal of Ravindran's new business is to enable neighborhood kirana shops to contend with the growing influence of fast-food chains like BlinkIt, Zepto, and Swiggy Instamart. Sources claim that Vikas Taneja (Boston Consulting Group) and Yatish Talvadia (MilkBasket) will also take part in KiranaPro's first fundraising round.
According to sources, KiranaPro, which is powered by ONDC, allows local kirana store owners to deliver goods within 15 to 20 minutes following an order.
On Monday night, there was no response to the queries submitted to Talvadia, Blume Ventures, Snow Leopard, Unpopular VC, and Ravindran.
Ravindran introduced Lookup, a chatbot-based platform that links companies and consumers, in 2014. Commercial chatbots were very popular with investors at the time, and Lookup raised more than $3 million from investors like Khosla Impact and Catamaran Ventures. NowFloats purchased the business a year later, and Reliance later purchased NowFloats.
The rise of rapid commerce and an economic slowdown, according to the All India Consumer Products Distributors Federation (AICPDF), which represents FMCG distributors, has caused almost 2 lakh Kirana stores to close in the last year. The trade association claims that rapid commerce platforms employ pricing and discounting tactics that lower Kirana stores' revenue and clientele, ultimately resulting in their demise.
Although there have been many previous attempts to empower local kirana store owners, nearly all of them have not had any discernible effect. Platforms such as Zepo, BuildaBazaar, NowFloats, Dukaan, and Bikayi failed to attain sustainable scale or models throughout the last ten years. Seeing how KiranaPro performs against well financed companies like BlinkIt, Swiggy, Instamart, and Zepto will be interesting.
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According to the sources, "Unpopular VC will lead the round, with participation from Blume Ventures, Snow Leopard, and a few angels”.
The goal of Ravindran's new business is to enable neighborhood kirana shops to contend with the growing influence of fast-food chains like BlinkIt, Zepto, and Swiggy Instamart. Sources claim that Vikas Taneja (Boston Consulting Group) and Yatish Talvadia (MilkBasket) will also take part in KiranaPro's first fundraising round.
According to sources, KiranaPro, which is powered by ONDC, allows local kirana store owners to deliver goods within 15 to 20 minutes following an order.
On Monday night, there was no response to the queries submitted to Talvadia, Blume Ventures, Snow Leopard, Unpopular VC, and Ravindran.
Ravindran introduced Lookup, a chatbot-based platform that links companies and consumers, in 2014. Commercial chatbots were very popular with investors at the time, and Lookup raised more than $3 million from investors like Khosla Impact and Catamaran Ventures. NowFloats purchased the business a year later, and Reliance later purchased NowFloats.
The rise of rapid commerce and an economic slowdown, according to the All India Consumer Products Distributors Federation (AICPDF), which represents FMCG distributors, has caused almost 2 lakh Kirana stores to close in the last year. The trade association claims that rapid commerce platforms employ pricing and discounting tactics that lower Kirana stores' revenue and clientele, ultimately resulting in their demise.
Although there have been many previous attempts to empower local kirana store owners, nearly all of them have not had any discernible effect. Platforms such as Zepo, BuildaBazaar, NowFloats, Dukaan, and Bikayi failed to attain sustainable scale or models throughout the last ten years. Seeing how KiranaPro performs against well financed companies like BlinkIt, Swiggy, Instamart, and Zepto will be interesting.
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