Funding story
Grocery e-commerce continues to be a hugely lucrative segment. Making grocery shopping hassle-free, in this day and age is a huge boon for urban consumers everywhere, and thus, it is no surprise that these startups are expanding rapidly. The latest development in this regard is the raising of $1 million(Rs 6.7 crore) by Bangalore-based grocery eCommerce firm Town Essentials. The startup succeeded in raising the funding from a group of HNIs, including Infosys’s Sharad Hegde, former Workday executive Girish Reddy, Twitter’s TellApart division’s Siddharth Patil and existing investor Shrikant Patil.
About Town Essentials’s services
All these investors will join the managerial board. The total funding raised by the company thus tops Rs. 12 crore.
Town Essentials considers itself to be a “Foodie friendly food store”. It offers a whole host of grocery and related products of various kinds. Their online platform features a “categories” section, which shoppers can browse in order to find the groceries of their choice. Among the various featured categories are “Health”, “Town Goodies”, “Beverages”, “Ready to Cook” and “Ready to Eat” items among others. The total number of featured categories is 16. Each of these categories contain several sub-categories : for instance, among “Ready to Cook” items are included Frozen Snacks and Food, Premixes, Sauces, Dips and Dressing and many others. Such cataloguing is a huge boon for consumers, and enables them to find the products of their choice quickly. In addition, exciting offers and discounts are separately highlighted by the Town Essentials website. Many such offers were brought out on the occasion of Christmas.
Future prospects
Founded by Amar Krishnamurthy in 2003, Town Essentials handles over 200 orders daily from its Bangalore HQ. The latest instance of funding is expected to be used for vigorous marketing and for building up a robust consumer base. Plans are also afoot to expand the services to other Tier-I cities. The Town Essentials venture looks set to have a very bight future.
Visit the startup’s website for more info.
