New Delhi: Grocery Shipping Startup, Grofers has changed itself as Blinkit, because it joins the race for supremacy in the Indian fast trade business that grows rapidly.
The Grofer step supported by Zomato was present on the heel of Swiggy’s giant food delivery committed to $ 700 million to a quick trade arm, Instamart.
While traditional e-commerce brings goods to consumer homes in two to three days, Commerce fast or Q-commerce is a new sub-vertical that allows shipping a small amount of goods in one hour.
E-commerce companies manage such fast delivery through dark shop networks, small warehouses that supply supplies, close to consumer houses.
“We learned a lot as Grofers, and all our learning, our team, and our infrastructure are being returned to pivot for something with a surprising product market – fast trading.
Today, we surge forward as a new company, and we have a mission statement New – Instant trade cannot be distinguished from magic.
And we will no longer do this as grofers – we will do it as Blinkit, “Albinder Dhindsa, founder in Grofers wrote on BlogPost.
While Dhindsa promised 10-minute shipments with around 300 dark stores, most of the players in the category, including Dunzo and Swiggy felt difficult to solve time puzzles, some thanks to Indian traffic conditions.
However, some industry executives who pay attention to TOI, however, said that the turnover generated by Instalamart might immediately go beyond the original Swiggy business from the aggregate restaurant and send food from them.
Grofer’s, who collected around $ 100 million from Zomato earlier this year, has Japanese Softbank as the largest shareholder with 50% of the shares.
Reportedly in talks with Zomato to raise $ 500 million again.
With the Indian fast trading market will touch $ 5 billion in 2025 of the current $ 0.3 billion, according to data from RedSeer, the potential segment has lured a number of companies, including new children in Zepto blocks and players such as Old Grofer rivals, large baskets Supported Tata, which has a plan to open 800 brick and mortar stores.