Food Logistics Startup Grab Raises $1mn Led By Oliphans Capital & Haresh Chawla

Food logistics startup Grab (formerly Grab a Grub) has raised $1 million from Oliphans Capital and independent investor Haresh Chawla.
Grab currently operates in Mumbai with a team of 500 delivery agents, and is looking to use the recently raised capital to expand its operations in Pune and others cities.
The company plans to deploy 800 delivery agents in Pune, enabling approximetely 7,000 orders daily across 700 outlets.
While online food ordering is a growing trend, last mile delivery is a massive challenge for restaurants which eats into their bottom end.
With Grab’s forte being hyper-local logistics, the company helps restaurants reduce delivery costs by converting them from fixed to variable, while also reaching a larger customer base.
Grab has also recently tapped into the tiffin delivery segment, offering deliver even at night, and putting a new spin to the concept of Mumbai’s famous dabbawallas.
The company’s technology solution includes its app that allows tracking of delivery agents, and works similar to that of taxi aggregators.
Any restaurant using Grab’s service will benefit from being able to track a customer’s order and give them precise delivery times.

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