Bangalore-based Town Essentials, an online grocer that supplies to both institutions and consumers, has raised $1 Mn (about INR 6.7 Cr.) in a fresh round of angel funding from a cluster of high-net-worth individuals, reported ET.
This round saw participation from Infosys’ first non-founder employee Sharad Hegde as the lead investor; former Workday executive Girish Reddy; Siddharth Patil, head of data science at the TellApart division at Twitter; and existing investor Shrikant Patil. The investors will be part of the company’s governing council.
Till date, the company has raised about INR 12 Cr. including this round.
Founded in 2003 by Amar Krishnamurthy, Town Essentials, is a one-stop solution to order grocery online. The company’s goal is to help discover and share the best of what India’s farms and kitchens have to offer.
Users can surf through company’s online catalogue and place their order or dial their (company’s) in-house call centre to place an order. Once the user places an order, the staff of Town Essentials travel to farmers’ markets on the outskirts of Bangalore and handpicks each vegetable and fruit.
With a staff strength of 120 and with 10 years of experience in this field, these staff help in sourcing garden fresh produce at wholesale prices.
Town Essentials will use the raised funds for marketing activities aimed at customer acquisition. “We will make our basket of private labels stronger by adding new products, improve back-end manufacturing and spend on advertising,” said Amar Krishnamurthy, founder & CEO of Town Essentials.
Currently, the company gets about 200 orders a day in Bangalore.
Recently, Town Essentials has launched a new platform called Morning Drop focused on subscription-based products such as milk, bread and eggs. Besides, it also plans to ramp up customer base to about 10,000 and launch a mobile app for customers to order from.
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