Restaurant Franchise Opportunities

funding Apr, 02 2014 raises angel funding

The fresh food vendor raises $1.5-million fund.

By Franchise India Bureau raises angel funding

Greencart Ventures Pvt Ltd, a Mumbai based e-com venture for fresh produce and gourmet food under, has taken USD 1.5 million (Rs 9 crore) angel from Techno Group.

The food vendors company will use the money to expand its operations and strengthen its distribution channels. It will also use these funds to augment its sourcing network besides enhancing end user experiences.

Commenting on the same, Jaydeep Mehta, Chairman, Techno Group, said, “The fresh produce market in India is estimated at USD 20 billion per annum and is currently dominated by the unorganised sector. We believe the time is perfect for a company like Greencart Ventures to capitalise upon the market conditions and capture a share of this fast growing market.”

Founded by Rajiv Tevtiya, Kiran Tevtiya and Devidas Mule, Greencart had gone live in 2013 and currently offers more than 1,500 products in over 30 categories.

Speaking on the same, Tevtiya said, “We have built a team of professionals with in-depth experience in agriculture, technology, distribution and marketing. Our management is directly associated with the agriculture sector. Their backward linkages give us a huge sourcing advantage”. 

Related: BigBasket raises funding

Click Here to add Comment
Please add your Comment
Sell Franchise 2017


Magazines & Books

Read the latest franchising magazines and books to get comprehensive and up-to-date information on leading franchise systems, trends and more.

Recommended For You
Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Restaurant India

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit