Get All Access for $5/mo

Grohood Raises Undisclosed Amount From IAN The company will use the capital to build its team and enhance its technological capabilities within the supply chain

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Grohood, a neighborhood community buying platform, raised an undisclosed amount in its pre-Seed round from Indian Angel Network (IAN). The company will use the capital to build its team and enhance its technological capabilities within the supply chain.

Founded in May 2019, Grohood's goal is to enable suppliers to provide just-harvested/ produce fresh perishable items to 300 million urban families daily at a genuine price with bulk buying advantages without any storage.

Presently serving more than 14 residential societies in Bangalore, Grohood has an expansion plan within Bangalore and further in tier I cities such as Mumbai. "At Grohood, we are passionate about enabling suppliers to provide just-harvested/produced fresh, mostly perishable items to 300 million urban families daily at a genuine price with bulk buying advantages without any storage. Current fund utilization would be to launch Grohood platform service for the entire Bangalore and make replicas ready for another Tier1 city," said Prem Chand, co-founder, Grohood.

"Bringing the native fresh, just-harvested perishable items to your community pickup point at a locally competitive price is a promising business model. As an emerging e-commerce model, community group buying improves the bargaining power of consumers. We are delighted to back a startup which is working on the sustainable model and may help in minimizing the impact of the business operations on the environment," said Padmaja Ruparel, co-founder, IAN.

Grohood is a tech startup that provides a community buying platform for customers and suppliers, mostly for perishable items. The platform uses a unique proprietary solution for non-impulsive buyers. Community group buying is a new e-commerce model that takes the residential community as a unit.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

Haber Secures USD 44 Mn in Series C Round to Drive Global Expansion

Accel remains the largest external stakeholder with an 18.1% stake, followed by Creaegis and Elevation.

News and Trends

East Ocyon Bio, Culture Circle, Power Gummies, and Navanc Raise Early-Stage Funding

The startups listed below have disclosed investment rounds.

News and Trends

Stride Ventures Launches Fourth Fund with USD 300 Mn Target Corpus

Industry leaders like BlueStone, Upstox, Moneyview, Ather, Pharmeasy, Infra.Market, and Ola Electric have benefited from Stride's support.

Fundraising

Will Investors Bite on a Pizza Wallet? Find Out on the Wild Season Finale of 'Elevator Pitch.'

On the season 12 finale of "Entrepreneur Elevator Pitch," contestants teach investors to look at ordinary things in a whole new way.

News and Trends

Tech Giants and MSMEs: Friends or Foes In the Digital Ecosystem?

The dominance of tech giants presents both opportunities and challenges for MSMEs. While these platforms provide essential tools and global reach, their control over key digital infrastructures often creates significant barriers for smaller businesses.