Online Supermarket LocalBanya Raises Series A Funding
Mumbai based online supermarket LocalBanya has raised Series A funding from Mumbai based realty development group Karmvir Avant Group. The amount of investment made was not disclosed.
LocalBanya was started in 2012 and processes over 400 deliveries daily with the help of a team of 100 employees. The company which had recently expanded services into Thane and Navi Mumbai had previously raised funding from Brand Capital Springboard in July 2013.
LocalBanya plans to expand to 2 more cities by mid-2014. The online grocery store has competition from the likes of peers ZopNow and BigBasket. BigBasket had raised $10 million funding from Ascent Capital in 2012, while ZopNow raised funding from Accel Partners, Times Group and Qualcomm.