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urdoorstep-funding

UrDoorStep raised bridge round funding

UrDoorStep a Bangalore based on demand delivery portal has raised bridge round funding of $447k from CP Muralu, former President and COO of Aricent Technologies. The funds will be used to expand their business in Bangalore.

It was founded in October 2015 by Dinesh Malpani. It delivers kitchen appliances, groceries, apparels and furniture at their customers doorstep. It claims to have served around 60-70 pincodes only in Bangalore.

In the next 2 months it plans to expand its service to 92 pincodes. It follows an inventory based model and has tied up with around 9000 farmers with an average size of Rs 1,200 per transaction.

Dinesh Malpani, founder of UrDoorStep,said

“We make gross margins of 17-18% across categories and try to deliver our private labels processed just-in-time. For food and essentials, digital channel is a game-changer.”

It competes with PepperTap, GreenCart, Grofers, BigBasket, etc. In March 2016, BigBasket raised $150 million from Abraaj Group- a UAE based private equity investor.

urdoorstep-funding

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