BUSINESS BRIEF

Startup is working in the field of last mile delivery of Groceries at lower prices by using Machine Learning for predicting price movements for next 30 days. They are building industry’s first Price Prediction Engine where they aim to utilize Geo-Data, Satellite Imagery, Weather Data and Market Data to accurately predict the Price Inflations caused by various natural and man made factors. IN FY 20, startup clocked a 50% MoM growth with 4,400 orders in April 2020. Startup works in a 3 Km radius from each delivery center and targets to on board maximum societies in the area. Besides creating economic value, they are also serving social objectives by helping farmers get better margins and prompt payments, providing job opportunities to female delivery executives etc. They raised their first round of funding from 100x.vc. Presently they are looking to raise INR 2 crores for tech development, supply chain and operations. Out of Rs 2 Crs of round - company has received hard commitment of Rs 50 Lacs and soft commitment of Rs 20 Lacs.