Online grocery delivery startup urDoorstep raises Rs 10 crore

BENGALURU: Online grocery delivery company urDoorstep has raised Rs 10 crore in a bridge round, with a high net-worth individual investing Rs 5 crore and an equal amount coming in as debt from Lakshmi Vilas Bank.

The fundraising comes four months after the Bengaluru-based company raised a sum of Rs 2 crore. In the previous round, CP Murali had invested in the company, which raised seed funding from Rajeev Chandrashekhar-backed Jupiter Capital.

“With the current round, we will be expanding to new pin codes in the city. We are eyeing Ebitda breakeven by first quarter of 2017-18. We are doing this by managing cost of customer acquisition and logistics cost,” said Dinesh Malpani, founder of urDoorstep.

The platform sources produce from 9,000 farmers across India, depending on seasonal variations, and serves only Bengaluru at present. The orders are served through a3,000-square-feet fulfilment centre which despatches the orders to smaller spokes across the city for delivery.

urDoorstep competes in a sector dominated by Big Basket, which fulfils nearly 47,000 orders per day across cities.