The participants in this round included Infosys’ first non-founder employee Sharad Hegde as the lead investor; former Workday executive Girish Reddy; Siddharth Patil, head of data science at the TellApart division at Twitter; and existing investor Shrikant Patil. The investors will be part of the company’s governing council.
The company, which gets about 200 orders a day in Bengaluru, plans to use the funds for marketing activities aimed at customer acquisition. “We will make our basket of private labels stronger by adding new products, improve back-end manufacturing and spend on advertising,” said Amar Murthy, founder and CEO of Town Essentials, which has staff strength of 120 at present.
The company has launched a new platform called Morning Drop that will focus on subscription-based products such as milk, bread and eggs. Alongside, it plans to ramp up customer base to about 10,000 and launch a mobile app for customers to order from. “Town Essential’s founders understand Indian consumers well and what they want. They have a lot of grit,” Siddharth Patil said.
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