Sourav Ganguly buys stake in inter-city food delivery platform JustMyRoots

Former cricketer Sourav Ganguly has acquired a minority stake in food delivery startup JustMyRoots for an undisclosed sum, reported The Economic Times (ET).

He will also be endorsing the company, it said.

JustMyRoots, which runs an intercity food delivery service, is also in discussions with venture capital and private equity funds to raise between Rs 120 and Rs 150 crore for business expansion.

According to Chief Executive Officer (CEO) Samiran Sengupta, the funds will be used to build manufacturing units for in-house packaging solutions it has developed, as well as to launch food delivery services in the city similar to Swiggy and Zomato.

 

Ganguly told ET he decided to invest in JustMyRoots since this is the future, with more and more people preferring to order food and eat at home.

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The former Indian captain said that he has been investing in startups and currently holds such strategic stakes in four firms. "I recently encashed one of the investments and it has been profitable for me."

With the addition of Ganguly's investment, JustMyRoots has raised Rs 31 crore from high net-worth individuals and family businesses worldwide, including the CEOs of some of the biggest tech companies.

The company reported revenue of Rs 208 for 2022–2023 and wants to raise it to 350 crore this financial year, its CEO Sengupta said.

"We are a large player in intercity food delivery operating in 30 cities, but we want to now enter same-city delivery by delivering food even 40-50 km away and ensuring it remains hot with our proprietary technology. This will start in Delhi-NCR, Mumbai, Kolkata and Bengaluru by Diwali,” he added.