LocalBanya receives Series A funding
The website receives 400 orders on daily basisJanuary 13, 2014 | comments ( 0 ) |
LocalBanya.com has received Series A funding from Karmvir Avant Group. In light of the recent funding crunch across the industries, this development is great news for e-tailing start-ups.
Speaking on the same, Rashi Choudhary, Co-founder, LocalBanya, said, “This cash inflow is a great vote of confidence in LocalBanya’s vision and empowers us with the resources to scale up operations, recruiting and marketing efforts which in turn will fuel growth.”
LocalBanya has been aggressive with its marketing efforts, which have been further amplified by an intensive campaign for its extension of services to Thane and Navi Mumbai. The website processes around 400 deliveries everyday with a team of over 100 employees.
Karmvir Avant Group has recently made investments in several start-ups in the hospitality and IT domain and are looking to add to their portfolio with this deal and were introduced to the opportunity through Delhi-based financial advisory firm Highstreet Corporate Advisors.
- Ola raises Rs 150 crore from Flipkart's Co-Founder Sachin Bansal
- Ananth Narayanan steps down as Myntra Jabong CEO
- DailyNinja celebrates 15 million orders fulfilled
- John Jacobs looks to garner Rs 500 crore revenue by March 2021
- The Body Shop plans to launch 20 more stores in 2019
- Saya Homes to invest Rs 450 cr in its 1st retail project
- Tablez to introduce US-based Build-A-Bear in India
- LOTS Wholesale Solutions expands footprint with its third store in India
- Microsoft partners with retail chain Kroger to develop grocery stores
- Myntra's revenue for FY18 plunges by 80%