Online grocery startup in talks to raise USD 10 million

After completing its second round of angel funding, Satvacart is in talks with PE funds and venture capitalists to raise USD 10 million (around Rs 65 crore).

The Gurgaon based online grocery startup will use the Series A funding for geographic expansion.
"We are extremely happy with the closure of angel round 2, which involved our old investors as well as HNIs as new investors. In times when there are talks of funding getting dried up, second angel funding highlights the confidence of investors in Satvacart's business model," Satvacart founder and CEO Rahul Hari said in a statement.


"The Series A funding, to be raised shortly, will be used for geographical expansion. We are on track with our business mantra - Controlled expansion with eye on profitability through operational excellence resulting in high customer satisfaction," he said.

With a range of over 4,000 products and a customer base of more than 5,000 in Gurgaon, it is planning to expand its operations to other parts of Delhi-NCR shortly.

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