Mumbai based e-commerce platform greencart.in secures $1.5 million angel funding

Mumbai based e-commerce platform - Greencart.in, specializing in fresh produce and gourmet food has secured $1.5 million funding from Techno Group - a company with diversified interests in hospitality, construction, real estate development, financial services and agribusiness.

Greencart currently offers more than 1500 products in over thirty categories. Greencart will utilize these funds to expand its operations, strengthen its distribution channels and augment its sourcing network besides enhancing end user experiences

“The fresh produce market in India is estimated at US $ 20 billion per annum and is currently dominated by the unorganized sector. This sector is not only growing at a fast pace, but also witnessing a marked transformation. More and more consumers are becoming conscious of quality, looking for standardization of products and beginning to enjoy the conveniences of online shopping,” says Jaydeep Mehta, Chairman, Techno Group. “We believe the time is perfect for a company like Greencart to capitalize upon the market conditions and capture a share of this fast growing market,” he adds.

Greencart.in is co-founded by Rajiv Tevtiya, who has earlier worked with TATA group and is an alumnus of JBIMS. The other co-founder Kiran Tevtiya, takes care of technology at Greencart. She was earlier working with Bank of America Merill Lynch. Both, Kiran & Rajiv started this Greencart.in along with Devidas Mule who has years of experience in growing, sourcing and distribution of fresh produce. Greencart.in has built a strong team of professionals with in-depth experience in Agriculture, Technology, Distribution and Marketing to emphasizes on freshness, health, hygiene and value as its USPs.

Greencart fresh products come with an adulteration free assurance and maintain international standards of freshness and hygiene. They are handled in a relatively dust free atmosphere and are exposed to minimum human touch, thereby reducing the risk of contamination. “In addition to the guaranteed freshness, almost all our fruits and vegetables are graded as export quality, premium, standard, etc. This helps the consumers understand the difference between two products in the same category. Also, the accurate gradation will enable the consumers to derive full value from their purchase,” adds Tevtiya.