Connect with us

Funding

Online Grocer BigBasket Raises Rs 45 Crores Venture Debt From Trifecta Capital

Published

on

online grocery market big basket, bigbasket raises 45 crores from trifecta capital, bigbasket trifecta capital, bigbasket, trifecta capital, investment, venture debt, expansion plans, hari menon, grofers, online groceries, start ups, hyperlocal start ups, online retail, e-commerce, supermarket grocery supplies, funding, capex, Hyperlocal delivery, startup stories latet news, e commerce latest news

The online grocery market BigBasket has raised Rs. 45 crores from Trifecta Capital as venture debt. This funding is all done for setting up a new cold chain and warehousing facility which will offer facilities for reprocessing of fruits and vegetables.

CEO of BigBasket Hari Menon said: “We are currently present in 25 cities and continue to optimize our supply chain. A significant part of our business is fresh fruits and vegetables which are directly sourced from the farms. It is important that we maintain the quality right up to the last mile.”

He also added saying that they are on the last leg of a pilot which will ensure that all fruits and vegetables are maintained at constant temperature and thus improve the shelf life of the product by almost 10 days. This can be achieved by equipment such as pre-coolers and ventilators and that funding such CapEx requirements is best done through debt.

This e-grocer saw its sales grow 231% to Rs. 563 crores in the financial year ending March 2016. However, net losses zoomed to Rs. 277 crores from Rs. 61 crores as they signed up big stars as Shah Rukh Khan as a brand ambassador, increasing the cost per delivery and expenditure incurred on setting warehouses.

Abraaj Capital, Zodius Capital, Helion Venture Partners, Ascent Capital as well as World Bank’s IFC are some of the investors of BigBasket.

BigBasket clocks an average of 50,000 daily orders while its competitor Grofers does around an average of 10,000 orders.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Funding

Eat Better Secures ₹17 Crore in Pre-Series A Funding

Published

on

Eat Better Secures ₹17 Crore in Pre-Series A Funding,Startup News,Startup Stories 2025,Startup Stories India,Funding,Eat Better,Eat Better News,Eat Better Latest News,Eat Better Bags Inr 17 Cr In Pre-series A Funding,Eat Better Bags Inr 17 Cr,Eat Better Secures ₹17 Crore,Vidushi Kanoria,Mridula Kanoria,Shaurya Kanoria,Dry Fruit Ladoos,Nuts,Eat Better Co,D2C Snacking Brand Eat Better,Eat Better India,Snacks,Healthy Snacks,Prath Ventures,Spring Marketing Capital,Pre-Series A Funding,Eat Better Product,D2C snacking brand,Marketing,Startup Stories News,D2C Snacking Brand Eat Better Bags INR 17 Cr From Prath Ventures,News,D2C,Investment,Startup Latest News,Retail,Growth,India,Startup Story,Startup By Doc

Eat Better, a Jaipur-based D2C snacking brand, has raised ₹17 crore in a Pre-Series A funding round co-led by Prath Ventures and Spring Marketing Capital. Founded by Vidushi Kanoria, Mridula Kanoria, and Shaurya Kanoria in 2020, Eat Better specializes in healthy snacks like dry fruit ladoos and nuts.

Key Highlights:

  • Investment Use: Funds will expand Eat Better’s product line and enhance its presence on quick commerce platforms.
  • Market Position: Competes with brands like Happilo and Yoga Bar in the healthy snacking space.
  • Operational Milestones: Fulfills over 2 lakh orders monthly.
  • Financial Performance: Revenue grew nearly threefold to ₹14.47 crore in FY24, with a reduced net loss.

Market Opportunity:

The Indian food and beverages market is projected to reach $68 billion by 2030, positioning Eat Better favorably to capitalize on the demand for healthy snacks. With this funding, Eat Better aims to strengthen its market presence and product offerings.

Continue Reading

Funding

Outzidr Raises ₹30 Crore to Transform Gen Z Fashion

Published

on

Outzidr Raises ₹30 Crore to Transform Gen Z Fashion,Startup News,Startup Stories 2025,Startup Stories India,Tech,Gen Z,Gen Z Fashion,Outzidr Raises ₹30 Crore,Outzidr Raises INR 30 Cr,Gen Z Fashion Brand Outzidr,Gen Z Fashion Brand,GenZ Women's Fashion Brand Outzidr Raises ₹30 Crore,Outzidr Raises ₹30 Cr to Power Gen Z Fashion Playm,Gen Z Fashion Brand Outzidr Raises ₹30 Cr in Seed Round,Fashion,Bengaluru,D2C fashion startup Outzidr,Nirmal Jain,Mani Kant Mani,Justin Mario,Ramakant Sharma,Livspace,Invest,Ghazal Alagh,Mamaearth,Outfits,Brands,Outzidr,Funding,Fashion brand,Outzidr Funding,Women's Fashion Brand,Gen Z Fashion Play,Outzidr News,Outzidr Latest News,Fashion News,Gen Z-focused fashion brand Outzidr

Bengaluru-based D2C fashion startup Outzidr, co-founded by Nirmal Jain, Mani Kant Mani, and Justin Mario, has secured ₹30 crore in seed funding led by Stellaris Venture Partners, with participation from angel investors like Ramakant Sharma (Livspace) and Ghazal Alagh (Mamaearth).

Launched in February 2025, Outzidr targets Gen Z women aged 17–27 with affordable occasion-specific apparel such as partywear and travel outfits. The brand introduces over 2,000 new designs monthly and uses a “test-and-react” model to scale popular styles based on early sales data. With an agile inventory cycle of less than three weeks, it plans to shift 90% of manufacturing to India within two years for sustainability.

The funds will bolster supply chain efficiency, technology development, team expansion, and brand-building. Outzidr aims to achieve ₹100 crore annualized revenue within 6–8 months through its D2C platform and marketplaces like Myntra, Nykaa Fashion, and AJIO.

Led by industry veterans with expertise in fashion and logistics, Outzidr is poised to capitalize on India’s growing D2C market fueled by Gen Z’s demand for trendy and affordable fashion.

Continue Reading

Funding

Greenikk’s Closure: A Cautionary Tale in the Agritech Sector!

Published

on

Greenikk's Closure: A Cautionary Tale in the Agritech Sector!,Startup Stories,Startup Stories India,Inspirational Stories 2024,Latest Technology News and Updates,2024 Technology News,Tech News,Agritech Greenikk shuts down,Agritech startup Greenikk shuts down due to loan defaults,Greenikk Closure Reasons for Shutdown,Greenikk closure,Agritech sector challenges,Lessons learned agritech industry,Startup failure reasons,Agricultural technology trends,Agritech startup closure,Market challenges agriculture,Sustainable agriculture innovation,Agricultural technology investments,Agritech industry insights,Agritech Sector

Agritech startup Greenikk has announced its closure, attributing the decision to funding challenges and adverse market conditions. Founded in 2020 by Fariq Naushad and Previn Jacob Varghese, Greenikk aimed to create a digital ecosystem for banana cultivation, addressing issues throughout the value chain from farmers to bulk buyers. Despite raising around $1 million from investors, including 100Unicorns and IIM A Ventures, the company struggled to secure additional funding, particularly for a planned $5 million Series A round.

Reasons for Shutdown

Several factors contributed to Greenikk’s decision to wind down operations:

  • Funding Challenges: Initially thriving during a period of low-interest capital availability in 2022, the startup faced difficulties as market dynamics shifted. Naushad admitted that the company pursued “the wrong metrics” for growth during its early success, ultimately leading to unsustainable practices.
  • Loan Defaults: Greenikk extended loans totaling ₹6 crore but encountered significant defaults from borrowers. Naushad reported spending six months attempting to recover about 80% of these receivables, highlighting ongoing challenges within the agritech sector regarding loan recoveries.
  • Lack of Product-Market Fit: Cofounder Jacob Varghese noted that despite developing a comprehensive app and ecosystem, Greenikk struggled to establish itself beyond being seen as a vendor for working capital. This failure to find a sustainable product-market fit hindered its scalability and revenue generation.

Investor Impact

In light of its closure, Greenikk plans to return 50% of the capital to investors. The funds recovered from liquidation will primarily be used to repay its lead investor, 100Unicorns. The founders have also committed to using their own resources to pay back angel investors, reflecting an effort to maintain transparency amid the shutdown.

Employee Welfare

Greenikk has pledged support for its employees during this transition by providing two months’ severance pay and job placement assistance for nearly 25 affected staff members. At its peak, the company employed around 30 individuals but had been reducing its workforce in response to ongoing financial difficulties.

Broader Agritech Landscape

The challenges faced by Greenikk are indicative of broader trends within the agritech sector, which has seen a significant decline in venture capital interest. In 2024 alone, agritech startups raised only about $150 million across more than 30 deals—a stark contrast to the $772 million raised in 2022. This downturn underscores the increasing difficulties startups face in securing funding as market conditions evolve.

As Naushad and Varghese look toward their next entrepreneurial ventures, Greenikk’s story serves as a cautionary tale for other startups navigating the complexities of agritech investment and operational sustainability.

Continue Reading
Advertisement

Recent Posts

Advertisement