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Online grocer startup, Meragrocer to raise $10 million in second round of funding

Online grocery startup Meragrocer is set to raise $10 million (about Rs 64 crore) in its second round of funding.

ET Bureau|
Jul 09, 2015, 04.03 AM IST
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Online grocery startup Meragrocer is set to raise $10 million (about Rs 64 crore) in its second round of funding.
Online grocery startup Meragrocer is set to raise $10 million (about Rs 64 crore) in its second round of funding.
By Smriti Basnet

NEW DELHI: Online grocery startup Meragrocer is set to raise $10 million (about Rs 64 crore) in its second round of funding, co-founder and chief operating officer Saurabh Chadha said. The company, which launched its e-grocery business in 2014, is planning to utilise the funds to strengthen its presence and expand operations in Delhi, Mumbai, Hyderabad and Chandigarh. "We are in talks with a mix of old and new investors and will be finalising the deal in the next 30 to 45 days," said Chadha, refusing to give out any names.

Prior to this, the company received $7 million (nearly Rs 45 crore) from CCube, BCCL and personal networks.

Meragrocer also plans to expand to other cities, including Bengaluru and Chennai, in the next 90 days. "Plans to expand to other cities will be covered in the next round of funding," said Chadha.

The company, founded by Chadha and Manoj Kumar in 2011, is already running beta operations in Mumbai, Hyderabad and Bengaluru to prepare for the launch. It currently operates in Gurgaon, East Delhi, South Delhi and Dwarka area in south-west Delhi.

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