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Apr, 29 2015

Grab raises fund from Oliphans Capital and Haresh Chawla

With 250 plus riders across Mumbai, Grab delivers orders worth over Rs 24 crores annually, this number is projected to cross Rs 75 crores over the next year.

Mumbai based food delivery start-up Grab.in has rasied $1 million from Oliphans Capital and Haresh Chawla (former CEO of Network 18).

Grab founded by three partners, Jignesh Patel, Nishant Vora and Pratish Sanghvi, has emerged as a leader in last mile delivery for restaurants & enterprises across Mumbai.

This round of funding will enable Grab to expand in markets such as Pune, Delhi, Chennai and Bangalore. Grab aims to use technology for a seamless kitchen-to-delivery process while reducing client overheads and enhancing customer experience.

With 250 plus riders across Mumbai, Grab delivers orders worth over Rs 24 crores annually, this number is projected to cross Rs 75 crores over the next year.

“Last mile logistics is the biggest pain point for restaurants and other enterprises in India. Grab is here to provide a unique technology-backed solution that not only increases the clients revenue but also reduces their cost” said Pratish Sanghvi, co-founder of Grab, who along with Nishant has witnessed similar models evolve during their stints at BlackRock (USA) and Toyota (Canada) respectively.

Commenting on the investment in Grab.in , Anish Jhaveri, Partner, Oliphans Capital,  said, “ We are excited about the food delivery space & the opportunity the nascent market offers .  Grab.in has been very successful in its scale up and have a great team in place. With the new capital , Grab.in will be able to enhance the technology and reach. Our investment philosophy has always been to invest in businesses which are simple to understand, a great team with hunger to execute and visible cash flows.”

Oliphans Capital promoted by ex-investment bankers Anish Jhaveri and Mohit Gulati, has been successful in incubating entrepreneurs and aiding their growth to the next level. 

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