Another Online Grocery Store, Jiffstore Receives Additional Funding from Investors

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The Indian e-commerce industry is going through a gold rush as more and more startups are getting angel funding from investors. One of the sector, which is high on the radar of venture capitalists are the online grocery stores. Many analysts are of the view in the few years, this sector would hold the bulk of the online e-commerce market. Already we have seen that a lot of enthusiasm from consumers as well as investors. Recently Zopper, an online hyperlocal marketplace raised over $20 million. Now another Mobile-first grocery delivery marketplace JiffStore has raised additional funding from existing investors.

So far, hyperlocal startups focusing on grocery and food delivery have raised around $133 million this year. The size of the current deal has not been disclosed yet, but the company has stated that the funds will be used to expand its operations. In addition to it, the funds will also be used network stores, marketing, team expansion and improving the technology platform.

The overall business model of Jiffstore is unique as it does not own any vehicles for deliveries which do not pose any burden on its resources. In fact, it has a commission based revenue model with the stores. The delivery and logistics are handled by the brick and mortar stores while JiffStore handles all the orders.

Currently, Bengaluru based startups clocks in more than 6000 transactions per month. It basically competes with Bigbasket, Zopnow, Grofers and Localbanya in Bengaluru. Like Grofers, Jiffstore also offers faster delivery of 90 minutes to its customers. Working on the same model LocalBanya also launched a similar services called InstaBanya recently.  There is no denying the fact that the future of these startups depends upon faster deliveries. This gives new startups huge opportunities to create a name for themselves in the niche market. If you are planning to enter this sector with your own startups, then do look as a detailed analysis of.

If you are planning to launch your own supe-rmarketplace then readymade ecommerce grocery software is right option.

 

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Comments (1)
Sagar Paithankar

Hello,

I agree with you, it’s fact Indian e-commerce industry gets growth more,Online supermarket offers a variety of products across
various categories like – Grocery & Staples, Bakery
& Confectionery, Beverages, Branded Foods. with free home delivery.