Mumbai: Mumbai-based KiranaKart Technologies Pvt Ltd, an online grocery delivery startup backed by global accelerator Y Combinator, said it has raised Rs 5.33 crore ($729,500) as part of its pre-seed funding round.
The funding was led by Global Founders Capital, said KiranaKart in a statement. Contrary Capital, 2 AM Ventures, and angel investors from India and Silicon Valley also participated in this funding round, it added.
KiranaKart was founded by 18-year-old students from Stanford University – Aadit Palicha and Kaivalya V. It said its platform aims to deliver groceries in under an hour.
The online grocery delivery market is already dominated by big and heavily-funded players such as Bigbasket, Grofers, Amazon, and Flipkart. Milkbasket is another venture capital-backed company in the space.