Greenz eyes Rs100 crore turnover, seeks PE funding

Tags: News
Farm to fork startup Greenz that has set up around 100 stores in Hyderabad hopes to be present in Bangalore and Chennai soon, an expansion that will help the organisation tap a turnover of Rs 100 crore in a couple of years. They are looking to invest roughly over Rs 30 crore in the three cities.

“Right now, we have 100 stores in Hyderabad and will first begin to reach 300 here in about 18 months. Post which we would set up 100 stores each in Bangalore and Chennai. We are in talks with private equity investors but are waiting to reach out to a critical mass of customers for better valuation,” said Sriram Chitturi, chief executive officer of Greenz. Their turnover now stands at Rs 30 crore.

The fruits and vegetable store says they deliver clean products within 24 hours of the farmers delivering it at pack-houses. They have four pack-houses — located in Telangana with collection centres across the country.

“We are also looking at launching soon grocery portal dailyneeds.com for the customer base. So our existing customers would get grocery at 10 per cent discounted price on maximum retail price. We are also trying to develop a device through which members of Greenz can be community connected for multi purposes like bulk-shopping, recipe sharing, or even get togethers,” Chitturi said.

trushnaudgirkar

@mydigitalfc.com

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