Unilazer Ventures, promoted by Ronnie Screwvala, today said it has picked up 25 per cent stake in the city's upcoming e-grocery retailer - EkStop Shop.
"I see tremendous potential and scalability for the e-grocery space in India. A disconnected last mile experience for the customer, high customer life time value, and an ability to build local monopolies in the top metros of India - are all exciting opportunities for this kind of business to grow exponentially," Unilazer Ventures AVP, Private Equity, Abhishek Shah said in a release issued here.
The company, however, did not disclose the value of investment.
This investment is in line with the company's strategic approach towards building e commerce verticals with potential for exponential growth and scalability, it said.
"We provide consumers a convenient, efficient and cost effective alternative to the corner store kirana and the supermarket. We have, in a short span, seen incredible customer traction and retention. The investment by Unilazer will further help us build best in class technology, bring in key hires and increase reach and depth to the consumer," EkStop.Com Co-Founder and CEO Sumat Chopra said.
EkStop, launched its services across Mumbai city last year, is aimed to make grocery and daily shopping easy and convenient for working professionals and housewives and has partnered with over 500 brands to offer over 8,000 products with its own in-house logistics and warehousing capabilities.
