Satvacart is an online grocery retailer that follows a hybrid model, sourcing from neighbourhood stores in addition to stocking its own inventory. Founded in January 2015 by Rahul Hari and based in Gurgaon, the business is owned by Satvacart Innovative Concepts Pvt Ltd. The company competes with grocery marketplaces such as PepperTap, Grofers, ZopNow and Jugnoo, as well as inventory-led firms like BigBasket and LocalBanya. Satvacart recently closed about $1.8M in its second angel round, with the capital earmarked for technology augmentation and team expansion. Existing investor Palaash Ventures participated alongside a group of unnamed high-net-worth individuals led by three senior executives from the insurance, telecom and investment-banking sectors. The startup had previously raised an undisclosed angel amount in July and is now in discussions with institutional investors for a Series A. Satvacart Retail LLP is a Gurgaon-based grocery e-commerce startup offering about 4,000 curated products across grocery, fruits and vegetables, personal care, household essentials, and baby care. The service provides delivery across five different time slots. The company reports over 80% repeat customers and claims zero return rates on perishable items. Satvacart says it has seen more than 100% month-on-month growth in the past six months. Launched in January 2015, the startup plans to expand into six more cities by the end of the financial year and has groundwork in place for four of those cities. The company will use the new capital to scale operations, acquire more customers, and expand the team. Founder and CEO Rahul Hari has prior experience at Cleartrip and NetApp and holds degrees from IIT BHU and Queen's School of Business.

Total raised

$2M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2015