Handpickd eyes Hyderabad, Mumbai, Pune expansion, targets 3-5x growth

The fresh produce platform plans to scale its zero-inventory model into three more metros and is targeting three-fold to five-fold year-on-year growth

Fresh produce and grocery platform Handpickd is looking to scale its zero-stock, fresh commerce model in three more metropolitan cities - Hyderabad, Mumbai and Pune - founder and chief executive officer Anant Goel told Business Standard.

 

“Geographic expansion is a top focus for us. Having proven our zero-inventory model across NCR (national capital region) and Bengaluru, we are actively evaluating launches in Hyderabad, Mumbai, and Pune. These are key markets with high demand for clean, additive-free produce and freshly milled kitchen staples,” Goel said.

 

The company currently operates in Gurugram, Noida, and Bengaluru, and serves more than 100,000 customers. Handpickd is aiming to achieve a three-fold to five-fold year-on-year growth trajectory on the back of its expansion drive.

 

Handpickd’s latest funding round was a $15 million Series A led by Bertelsmann India Investments, with participation from Titan Capital Winners Fund and existing investors. Its earlier backers include Blume Ventures, Genesia Ventures, BEENEXT, Stargazer Ventures, Eximius Ventures, Infinyte Club Angel Fund and Sunrise Sunset Family Trust. The company plans to deploy the capital towards supply-chain technology, geographic expansion and hiring as it scales its model.

 

Unlike quick commerce (qcom) platforms such as Blinkit, Zepto and Swiggy Instamart, which rely on dark stores to hold inventory close to consumers, Handpickd said it follows a zero-stock, harvest-to-order model. Here, orders are aggregated overnight and produce is sourced directly from farms or prepared to order.

 

Goel said the platform does not operate traditional dark stores or warehouses. Instead, it operates automated cross-docking sorting nodes, which it calls 'butlers', supported by a central feeder. These micro-hubs receive farm produce and freshly milled products overnight, conduct quality checks and custom-pack orders before dispatching them to customers.

 

Handpickd said its model is focused on scheduled morning deliveries rather than the 10-minute delivery proposition of qcom platforms. “We are fixing a massive flaw in modern food distribution: prioritising long shelf life over real quality,” Goel said.

 

According to Goel, the platform records an average monthly wallet capture of more than Rs 3,000. He added that the company's customer retention is in the “higher double digits” as a percentage of active monthly customers.