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

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Regional parties that brought diversity to Indian democracy are at a dead end

    In the two decades, which began in 1989, when the paradigm of coalition politics came to dominate central governments, it would have sounded far-fetch

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Kuruvilla Pandikattu SJ

What we can learn from agnosticism

As an agnostic, the American writer David Breeden is aware ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture