BazaarNow Bags ₹72 Crore to Take Quick Commerce Beyond Metros
BazaarNow has raised ₹72 crore in a Peak XV-led funding round to expand its quick commerce platform focused on Tier 2 and Tier 3 cities.
SociapaHQ
Quick commerce startup BazaarNow has raised ₹72 crore in a round led by Peak XV Partners, with Whiteboard Capital, Antler and a group of prominent angel investors also participating.
The latest investment takes the company’s total funding to Rs 80 crore including its earlier pre-seed round.
Angel investors who participated were Meesho Founder and CEO Vidit Aatrey, former Swiggy Instamart executive Karthik Gurumurthy, AppsForBharat and Sri Mandir Founder Prashant Sachan, Reckitt Greater China and North Asia Managing Director Arjun Purkayastha, Chaayos Founder Nitin Saluja, Zeno Health Co-founder and CEO Siddharth Gadia, FirstClub Founder and CEO Ayyappan R and FirstClub Co-founder Aravind Charanyan V.
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Tier 2 Focus:
Founded by Priyanshu Jain, Arjun Harish and Tarithmay Mandal, BazaarNow is building a quick commerce platform around the specific needs of consumers in Tier 2 and Tier 3 cities.
The company believes that grocery shopping behaviour in smaller cities is quite different than metro markets where most of the quick commerce platforms have traditionally focused their growth efforts.
App-based grocery delivery has been embraced by urban consumers, but many homes in smaller cities still depend on a mix of kirana stores, local markets and offline retail for their daily needs.
BazaarNow claims its platform has been built around these existing buying behaviours, rather than attempting to mirror metro-centric e-commerce models.
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Local-First Approach:
The company focuses on local assortments, regional brands, fresh fruits and vegetables, transparent pricing and a vernacular first user experience.
Plus, the platform has assisted commerce features such as call-to-order help for consumers with varying degrees of digital familiarity.
“Buying groceries in tier 2 and tier 3 cities is not like ecommerce in metros. “It is more local, it is more habitual and it is much more value conscious,” said Priyanshu Jain, Co-founder and Chief Executive Officer, BazaarNow.
“Our view is that quick commerce for the next 700-plus Indian cities has to be built differently. Customers should not have to navigate complicated coupons, wallets or discount constructs to buy everyday essentials,” he added.
