GrocerApp, a Lahore-based grocery delivery startup, has secured $1 million investment in a seed funding round.
Led by Jabbar Internet Group, the leading Venture Capital (VC) and Private Equity firm in the Middle East and North Africa (MENA) region, Saudi-based Nama Ventures, Jordan’s Nader Group, Pakistan-focused VC Karavan, Amazon MENA executive, Asif Keshodia, participated in the seed round.
7Vals, a Lahore-based IT company, and existing investors including Walled City Co, LeanBricks, and Shehryar Ali of Treet Pakistan also invested in this round.
Following the latest seed round, GrocerApp’s total investment has increased to $1.5 million.
Founded in 2016, GrocerApp allows consumers to order their groceries and have them delivered at their doorsteps the same day.
Since its inception, GrocerApp has been operating in Lahore only. However, it has recently expanded its operations to Islamabad and Rawalpindi.
GrocerApp is planning to extend its operations to other major cities of Pakistan in the coming months.
Founder and CEO GrocerApp, Ahmed Saeed, has said that the Coronavirus outbreak and subsequent lockdown proved conducive for the company to grow in the last few months, adding that it is now growing 30% month-over-month.
GrocerApp’s success in the seed round indicates investors’ confidence in the leader of the online grocery industry. The experience of these investors will serve as an impetus for the growth of GrocerApp.
Via: MENA Bytes