Unilazer Ventures Limited, venture capital fund owned by Ronnie Screwvala, has invested an undisclosed amount in the e-grocery retailer – EkStop Shop Private Limited – by acquiring 25% stake in it.
EkStop.com launched its services across Mumbai last year. The company provides the same-day delivery convenience and service of a kirana store.
The company has partnered with over 500 brands to offer over 8,000 products and has its own in-house logistics and warehousing capabilities.
“This latest investment is in line with Unilazer’s strategic approach towards building e commerce verticals with potential for exponential growth and scalability,” said an official statement.
Sumat Chopra, co-founder and chief executive officer of EkStop.com said, “Ekstop.com provides consumers a convenient, efficient and cost effective alternative to the corner store kirana and the supermarket. The investment by Unilazer will further help us build the best in class technology, bring in key hires and increase reach & depth to the consumer.”