Unilazer Ventures picks 25% stake in EKStop.com
The cost of acquisition is not disclosedJanuary 07, 2014 | comments ( 0 ) |
Unilazer Ventures Limited has announced its investment of an undisclosed amount for a 25 percent stake in Mumbai's upcoming e-grocery retailer - EkStop Shop Private Limited. This latest investment is in line with the company's strategic approach towards building e-commerce verticals with potential for exponential growth and scalability.
EkStop.com was launched across Mumbai last year and provides same-day quick delivery convenience and service of a kirana store coupled with the wide product variety, promotions and discounts of a hypermarket.
Abhishek Shah, AVP, Private Equity, Unilazer Ventures, stated, "I see tremendous potential and scalability for the e-grocery space in India. A disconnected last mile experience for the customer, high customer life time value, and an ability to build local monopolies in the top metros of India – are all exciting opportunities for this kind of business to grow exponentially."
Sumat Chopra, Co-Founder and CEO of EkStop.com, said, "Ekstop.com provides consumers a convenient, efficient and cost effective alternative to the corner store kirana and the supermarket”.
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