Zapmart is all set to raise $10 Million in its first round of funding from
by Parvez Siddiqui has got a seed funding of Rs.3 Crore, which was led by two
businessmen from the real estate sector.
strengthen our technology backbone and logistics within Mumbai,” said
Parvez Siddiqui, founder of Zapmart.
million from its Series A round of funding, in which they are in talks with few
angel investors and are looking out for large venture capital funds.
for geographic expansion in Maharashtra and especially in Pune within this
year. Another main usage of the funds will be utilized for turning kitchens
into smart kitchens where our technical team is working towards a new
innovative idea for the benefits of the consumer. Our aim is to expand Zapmart
in cities like Delhi, Bangalore, Kolkata, Ahmedabad, Jaipur and capture the
tier II cities as well, in the next 3 to 4 years. We are on path of following
our business policy of controlled expansion with eye on profits through
operational excellence resulting in high customer satisfaction. Also we are
following deeper penetration which will help us to stabilize in each region we
enter,” said Mr. Siddiqui.
new sub-stations within the city known as Zap-Station which will help the
logistic team to deliver in lesser time to the consumer to ensure the product
ordered remains fresh and in good condition.
5,000 daily usage products and has a customer base of more than 6,000 to 7,000