VeggyKart to raise Rs 19-cr in Series-A

Will use proceeds to acquire customers and expand business beyond Gurgaon

VeggyKart, a Gurgaon-based online venture of home delivery of fresh fruits, vegetables and grocery, is planning to raise anywhere between $3 million and $4 million (about Rs 19 crore and Rs 25.5 crore) in a Series-A round of funding from venture capitalists by the end of this month.

The company, which started operations in June 2015 with a seed funding of Rs 2 crore, intends to invest a significant portion of the proceeds to acquire customers and expand business beyond Gurgaon.

"The shopping habits of consumers are changing, and niche online grocery services that focus on convenience and selection are gaining traction. Our endeavour is to build value for a profitable growth and our positive performance so far is a testament to this approach," Ravi Pahuja, co-founder and chief executive officer of VeggyKart, said in a statement on Thursday.

VeggyKart, which offers the same-day delivery service of hand-picked and cleaned goods, currently has a customer base of over 1,000. It aims to establish its presence in the top-20 cities, including Tier-II and Tier-III markets, within a year.