Tracxn Research: Grocery Tech India Landscape, August 2016

Grocery Tech India Report, August 2016
Tracxn
World’s Largest Startup Research Platform
2

Contents
Topic Page No.
Scope of Report 05
Entrepreneur Activity 07
Investment Trend 10
Who is Investing 18
Exit Outlook - IPO, Acquisitions 22
Sub Sector Analysis 24
Interesting Companies 37
Useful Links 42
Company List 44
Team 175
3
3

Illustrative Sectors We Track In India
OFFLINE
AGRICULTURE
FOOD & BEVERAGE
OUTSOURCING
CONSUMER GOODS
HEALTHCARE
FINANCE
EDUCATION
MEDIA & ENTERTAINMENT
TECH
MOBILE
MARKETPLACES
CONSUMER DIGITAL
ENTERPRISE TECH
FINTECH
ADTECH
HEALTHTECH
EDTECH
SaaS
TECHNOLOGY
CROSS BORDER
FOOD
TRAVEL
RETAIL
TRANSPORT
GROCERY TECH
SECOND HAND GOODS
HOME SERVICES
LOCAL SERVICES

Sector Overview
Scope of report
This report covers companies that provide an online platform for buying and selling of grocery items. Companies acting as pure
delivery service providers or those who bring local offline grocery shops online are also included. It excludes offline retail
companies such as Big Bazar, More and Spencers Retail.
615+ companies were incorporated from 2010 with 315+ companies founded in 2015 itself. But in 2016, the rate of number
companies founded decreased drastically to less than 50% when compared to 2015. Of the total 615+ companies around 490
companies belong to the horizontal segment with the Retail and Marketplace business models. Fruits & Vegetables segment
comes next with around 50 companies falling into it.
In recent times, Horizontal - Retail and Marketplace business models have matured in Groceries sector with companies such as
BigBasket, Grofers, ZopNow receiving huge funding in their respective segments.
B2B is the upcoming segment in Groceries sector, where the companies connect the producers/brands/manufacturers with the
local merchants/businesses. Companies such as Ninjacart, Truce, VegFru operate in this segment.
Retail – Subscription & Dairy Products - Subscription have also seen some traction with increasing entrepreneur activity.
The scope of this report includes equity as well as debt funding received by the companies.

Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
6
6

3
15
38
69
155
307
23
0
50
100
150
200
250
300
350
2010 2011 2012 2013 2014 2015 2016
NumberofCompanies
7
YoY – Number of companies founded
Ocean Hooks BigBasket Localbanya Grofers PepperTap Licious HealthSeeker
Farm2Kitchen ZopNow Chennai Sea Food Greencart.in Satvacart Ninjacart IndiaFreshGrocery

Large & Niche Upcoming Sectors

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
9
9

YoY – Number of Rounds and Total Funding
$12M
$17K
$39M
$281M
$158M
3 3
6
26
10
0
6
12
18
24
30
0
60
120
180
240
300
2011 2012 2013 2014 2015 2016
NumberofRounds
FundingAmount(inMillions)
Funding Amount Number of Rounds
Note: The funding includes debt rounds also.

YoY – Number of Rounds by Stage

YoY – Funding by Stage

Average Ticket Size – Early Stage

Top investments in last one year

Funnel view of Sector

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
7
17

Most Active Investors in Sector
7
3 3 3 3 3
2 2 2 2
0
1
2
3
4
5
6
7
8
Sequoia Capital Accel Ascent Capital Qualcomm
Ventures
Tiger Global
Management
Times Internet Bessemer
Venture Partners
Helion Venture
Partners
Palaash Ventures SAIF Partners
TotalNumberofRounds
Grofers BigBasket Grofers Jiffstore BigBasket BigBasket Satvacart PepperTap
PepperTap Ninjacart Ninjacart

Where are Top Investors investing

Top Investor by Stage of Entry

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
1
21

Major Acquisitions in last one year
Date Company Acquirer Deal Size Overview
Total
Funding
Jun-2016
SabkuchFresh
(Chandigarh, 2016)
Jugnoo Undisclosed
Online store for fruits & vegetables
(Now rebranded as Lofatafat.com)
-
Dec-2015 jiffstore.com
Jiffstore
(Bangalore, 2013)
Peppertap Undisclosed
M-commerce platform for ordering groceries from local kirana
stores
TLabs, Times Internet, Unitus Seed Fund
$16K
Dec-2015 meragrocer.com
Meragrocer
(Gurgaon, 2014)
Spencers Retail Undisclosed Online retailer for groceries, organic and dairy products -
Sep-2015 bigzop.com
BigZop
(Gurgaon, 2015)
Autoncab Undisclosed Online hyperlocal grocery marketplace -
Oct-2015 mygreenbox.in
MyGreenBox
(Delhi, 2014)
Grofers Undisclosed Mobile-first grocery delivery service -
Feb-2015 ekstop.com
EkStop
(Mumbai, 2011)
Natures Basket Undisclosed
Online retail platform for groceries and other household products
Unilazer Ventures, Jungle Ventures
Undisclosed

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
3
23

August 2016Tracxn Market map : Groceries - India
615+ companies in the sector, 30 funded in since 2011, $439M invested in 2015/16
24

Top Business Models by Funding
$4M
$3M $2M
$1M
$250M
$231M
0
10
200
300
40
50
Horizontal Meat & Seafood B2B Fruits & Vegetables Dairy Products
TotalFundingAmount(inMillions)
# Cos. 487 30 23 50 14
Avg. Age 2014.2 2013.1 2014.9 2014.2 2014.1
BigBasket Licious Ninjacart Greencart.in MilkBasket
Grofers ZappFresh Truce FreshWorld Daily Ninja
Marketplace
Retail
400
500

Horizontal – Entrepreneur Activity and
Investment Trend

Horizontal – Most Funded Companies

B2B – Entrepreneur Activity and Investment
Trend

B2B – Most Funded Companies

Fruits & Vegetables – Entrepreneur Activity and
Investment Trend

Fruits & Vegetables – Most Funded Companies

Meat & Seafood – Entrepreneur Activity and
Investment Trend

Meat & Seafood – Most Funded Companies

Dairy Products – Entrepreneur Activity and
Investment Trend

Dairy Products – Most Funded Companies

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
6
36

Interesting Unfunded Companies
Company Overview Business Model
Buy Ample
(2015, Mumbai) Mobile first membership based grocery wholesaler
Horizontal > Retail
Supr Daily
(2015, Mumbai ) Mobile first subscription based delivery of daily grocery needs
Horizontal > Retail > Subscription
Fresh Supply
(2015, Delhi )
B2B platform connecting farmers, wholesalers to businesses B2B > Fruits & Vegetables
Curated list of companies by the sector analyst are defined as Interesting

Interesting Seed & Angel Funded Companies

Interesting Series – A, B, C & D Funded Companies

Top Funded Dead Pooled Companies

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
1
41

Useful Links
Slide Title Content Platform Link
List of All Companies in readable format Companies Link
Large Upcoming Sectors Entrepreneur Activity Link
Niche Upcoming Sectors Entrepreneur Activity Link
Top investments in last one year Investment Trend Link
Major Acquisitions in last one year Exit Outlook - Acquisitions Link
Horizontal – Funded Companies Sub Sector Understand Link
Fruits & Vegetables – Funded companies Sub Sector Understand Link
Meat & Seafood – Funded Companies Sub Sector Understand Link
Dairy Products – Funded Companies Sub Sector Understand Link
B2B – Funded companies Sub Sector Understand Link
Top Funded Dead Pooled Companies Companies Link

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
3
43

Grocery Tech - India – Company List
DETAILS CLOSE TO 585 FOUNDED AND 30 FUNDED COMPANIES AND
COVERS THE FOLLOWING SEGMENTS IN GROCERY TECH – INDIA SECTOR
Horizontal Fruits & Vegetables FMCG & Staples Meat & Seafood Dairy Products B2B Others

Horizontal (1/100)
Company Details Funding Investors
Marketplace
Grofers [Delhi, 2013]: Provides delivery network services connecting local merchants to their customers. Was a
B2B solution and is currently allowing consumers to order products from local merchants for home delivery
through Grofers (Nov 2014). Company has shifted base to Singapore, the India operations will be controlled by
Grofers India (GIPL), a 100% owned subsidiary of Singapore-based Grofers International. The company provides
home delivery service from chemist, grocery, bakery and other local shops. The company sends a team to take
photos of products and upload them to its platform. Service is available in 9 Indian cities. Claims to have
partnered with 250+ local merchants and processing 33,000+ orders every month with a fifth of those orders
placed through its mobile apps and generates 20 new leads per outlet every month as of Feb 2015. Doing 6000
orders everyday as of June 2015. Has around 700 delivery guys. Offers an Android based app on Google
Playstore. Part of Locodel Solutions Pvt. Ltd. Acquired mobile first groceries startup MyGreenBox in April 2015.
Partnered with Happay in July 2015, will disburse cash to its delivery executives through Happay’s card.
Happay’s technology would enable Grofers track and approve expenses, load or withdraw money, set limits and
manage cards using a dashboard and mobile app. In talks of raising upto $200M from Softbank, DST Global,
Tiger Global and Sequoia. Varun Khurana, chief technology officer (CTO) has resigned from the company.
$165M
Sequoia Capital, Tiger Global
Management, SoftBank
Marketplace
PepperTap [Gurgaon, 2014]: PepperTap is mobile app for shopping groceries, fruits and vegetables. Hyperlocal
delivery business model, similar to InstaCart. Connects directly with local vendors and supermarkets to fulfill
orders. Also has a web based online store. Guarantees delivery within 2 hours and takes a cut between 5-15% of
the total billed amount. Serving across all locations in Gurgaon. Has 10k+ mobile downloads. Founders IIM-A, ex-
Delhivery. Raised $10M from Sequoia Capital in April 2015, which it will invest in building a team of over 500
employees by mid-2015 and expand to Mumbai, Pune, Hyderabad, Bangalore and Chennai in next 3-6 months.
Company now delivers 600+ orders across Gurgaon, Dwarka (Delhi) and Greater Noida on a daily basis and does
over 1.5 crore GMV on a monthly basis. Acquired Jiffstore for an undisclosed amount in December, 2015. Shut
down its operation in Apr'16 and plans to pivot to full stack logistics space
$51.2M
Snapdeal, SAIF Partners, Sequoia
Capital, JAFCO Asia, ruNet, InnoVen
Capital, Beenext

Horizontal (2/100)
Marketplace
ZopNow [Bangalore, 2011]: ZopNow offers an eCommerce platform for grocery delivery to homes in different
slots. Categories include kitchen groceries, house cleaning, food and beverages, bathroom and bedroom
products. Pivoted from managing own inventory to sourcing supplies from supermarket chains HyperCity and
More Megastore. Once customer places an order, the company’s runner executives in the store picks/packs and
delivers the goods in less than three hours to the customer. The company is further in talks with other offline
retailers to implement a similar model. Launched in September 2011. Available in Bangalore, Navi Mumbai,
Hyderabad and Pune as of April 2015. Has mobile apps for iOS and Android. Raised series A funding led by
Dragoneer Investment Group with participation from Accel Partners, Qualcomm Ventures and Times Internet in
April 2015 to expand to over 15 cities. Launches its operation in Mysore as of December 2015.
$12M
Accel, Qualcomm Ventures, Times
Internet, InnoVen Capital, Dragoneer
Investment Group
Marketplace
Nukkad Shops [Hyderabad, 2015]: Nukkad Shops is a mobile app which lets users order groceries from local
stores, within 2KM radius. Have a point-of-sales (POS)-based system – comprising of a 10-inch tablet, an in-built
thermal printer, barcode scanner and a cash drawer at the heart of the app, which is compatible with android
and iOS-based mobile devices. This also helps them digitize entire inventory and make it accessible for all the
customers. Claims to be live in 180 grocery stores with 20,000 active users, with an average basket size being
INR 250. Claims to deliver within 30 minutes. As of March 2016, Offering its services in selected parts of
Hyderabad. Raised $1M funding from PurpleTalk Inc. Plans to provide online bus ticket booking, and also leads
generation to banks through the retailers.
$1M PurpleTalk

Horizontal (3/100)
Marketplace
iOrderFresh [Gurgaon, 2014]: iOrderFresh provides doorstep delivery of farm fresh fruits and vegetables.
Mobile only with apps for Android and iOS. 10k+ installs as of April 2015. Claims to have grown from 25k
registered customers to 50k in last four months (Aug 2015). Catering to Delhi/NCR. Raised $1M in seed funding
from Best Foodworks, an investment company led by Alkesh Tandon, son-in-law of Yes Bank promoter and
managing director Rana Kapoor.
$1M
Marketplace
LazyLad [Gurgaon, 2015]: LazyLad allows user to order products such as fruits, vegetables, groceries, stationery,
flowers etc. from near by stores. Local retailers can upload and update their inventory on the platform. Claims
to provide delivery within 90 minutes and real time order status tracking. Has 70 service providers on its
network across six categories and is serving 25 orders a day as on May 2015. Part of GreenHouse Ventures
Accelerator programme. Raised $500k funding from Singapore based M&Y Partners, Tekton Ventures' founder
and managing partner Jai Choi and Japan-based Sugashita Partners' Kiyohiro Sugashita, who has invested in an
individual capacity. Shut shop in June 2016.
$600k GHV Accelerator
Marketplace
Jiffstore [Bangalore, 2013]: mCommerce platform that helps small supermarkets and kirana stores to sell
grocery online. Stores can also manage customer loyalty, discounts, campaigns and get customer analytics.
Customers can view stores close to their location and order listed items on the go from the mobile app.
Incubated at Times Internet. Received undisclosed amount of funding from Unitus Seed Fund in May 2014.
Clocking 200 transactions a day. Acquired by Peppertap in December 2015.
$16k
TLabs, Times Internet, Unitus Seed
Fund
Marketplace
KiranaSales [Bangalore, 2013]: KiranaSales.com is an online grocery marketplace portal developed and
operated by Bhavitha Retail Solutions Pvt Ltd. The platform connects local supermarkets and customers to
enable online buying of product categories such as baby care, vegetables, fruits etc. Also provides backend
integration with supermarkets with billing PoS.
Marketplace
Flipkart Nearby [Bangalore, 2015]: Flipkart Nearby delivers groceries, personal care products, health and
wellness products, baby care products, snacks, beverages and household supplies from local stores to
customer's doorstep. Currently catering to select areas in Bangalore.

Horizontal (4/100)

Horizontal (5/100)

Horizontal (6/100)

Horizontal (7/100)

Horizontal (8/100)

Horizontal (9/100)

Horizontal (10/100)

Horizontal (11/100)

Horizontal (12/100)

Horizontal (13/100)

Horizontal (14/100)

Horizontal (15/100)

Horizontal (16/100)

Horizontal (17/100)

Horizontal (18/100)

Horizontal (19/100)

Horizontal (20/100)

Horizontal (21/100)

Horizontal (22/100)

Horizontal (23/100)

Horizontal (24/100)

Horizontal (25/100)

Horizontal (26/100)

Horizontal (27/100)

Horizontal (28/100)

Horizontal (29/100)

Horizontal (30/100)

Horizontal (31/100)

Horizontal (32/100)

Horizontal (33/100)

Horizontal (34/100)

Horizontal (35/100)

Horizontal (36/100)

Horizontal (37/100)

Horizontal (38/100)

Horizontal (39/100)

Horizontal (40/100)

Horizontal (41/100)

Horizontal (42/100)

Horizontal (43/100)

Horizontal (44/100)

Horizontal (45/100)

Horizontal (46/100)

Horizontal (47/100)

Horizontal (48/100)

Horizontal (49/100)

Horizontal (50/100)

Horizontal (51/100)

Horizontal (52/100)

Horizontal (53/100)

Horizontal (54/100)

Horizontal (55/100)

Horizontal (56/100)

Horizontal (57/100)

Horizontal (58/100)

Horizontal (59/100)

Horizontal (60/100)

Horizontal (61/100)

Horizontal (62/100)

Horizontal (63/100)

Horizontal (64/100)

Horizontal (65/100)

Horizontal (66/100)

Horizontal (67/100)

Horizontal (68/100)

Horizontal (69/100)

Horizontal (70/100)

Horizontal (71/100)

Horizontal (72/100)

Horizontal (73/100)

Horizontal (74/100)

Horizontal (75/100)

Horizontal (76/100)

Horizontal (77/100)

Horizontal (78/100)

Horizontal (79/100)

Horizontal (80/100)

Horizontal (81/100)

Horizontal (82/100)

Horizontal (83/100)

Horizontal (84/100)

Horizontal (85/100)

Horizontal (86/100)

Horizontal (87/100)

Horizontal (88/100)

Horizontal (89/100)

Horizontal (90/100)

Horizontal (91/100)

Horizontal (92/100)

Horizontal (93/100)

Horizontal (94/100)

Horizontal (95/100)

Horizontal (96/100)

Horizontal (97/100)

Horizontal (98/100)

Horizontal (99/100)

Horizontal (100/100)

Fruits & Vegetables (1/11)

FMCG & Staples (1/2)

FMCG & Staples (2/2)

Meat & Seafood (1/7)

Dairy Products (1/3)

B2B (1/5)

B2B (2/5)

B2B (3/5)

B2B (4/5)

B2B (5/5)

Others

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
4
174

Team
Bindu Reddy
Lead Analyst, Consumer Digital India
Naga Chaitanya
Analyst, Consumer Digital India

Tracxn Research: Grocery Tech India Landscape, August 2016

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Viewers also liked

Viewers also liked (19)

Similar to Tracxn Research: Grocery Tech India Landscape, August 2016

Similar to Tracxn Research: Grocery Tech India Landscape, August 2016 (20)

More from Tracxn

More from Tracxn (20)

Recently uploaded

Recently uploaded (20)

Tracxn Research: Grocery Tech India Landscape, August 2016