FMCG sector projects by AaramShop Private Limited in Multi Location
Project Information
6942
AaramShop Private Limited
At a time when grocery sites are shutting shop due to lack of funds, online grocery shopping network aaramshop is planning to raise ₹12 million as part of Series A funding, to expand its operations across new markets like Sri Lanka and Dubai.
“We are in an advanced stage of raising $12 million from VC funds by March as part of Series A funding, and offloading between 20-30 per cent stake in the company,” said Vijay Singh, CEO and MD of aaramshop.
Having raised $1 million as seed funding since the start of operations, it is being asset-light, which has helped it get profitable unlike other grocery retailers that have been reeling under losses due to high logistics cost.
“We help digitise local grocers and kiranas by lifting their inventory, but do not bear the cost of delivery. Most of the hyper local grocery players will not be able to turn profitable as their biggest cost is delivery,” observes Singh. While it does charge grocers a miniscule percentage of the sales, the bulk of its revenue comes through FMCG brands themselves and their advertising spends on its portal and app.
Roping in 10,000 small grocers across 90 cities, aaramshop is now planning to emulate its business model across neighbouring countries, with the help of franchises.
“We already have operations in Pakistan and Kenya. Next would be places like Dubai and Sri Lanka as these are countries that have similar shopping practices like our own.
Project Value
INR 1.20 Crore /-
Under Implementation
Multi Location
Multi State
India
FMCG
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