Zapmart to Raise $10 Million From First Round of Funding
Mumbai based online grocery startup Zapmart is all set to raise $10 Million in its first round of funding from investors.
Zapmart which is a self-funded startup by Parvez Siddiqui has got a seed funding of Rs.3 Crore, which was led by two businessmen from the real estate sector.
"The seed funding will be used to strengthen our technology backbone and logistics within Mumbai," said Parvez Siddiqui, founder of Zapmart.
Zapmart is also keen to raise $10 million from its Series A round of funding, in which they are in talks with few angel investors and are looking out for large venture capital funds.
“The Series A funds will be utilized for geographic expansion in Maharashtra and especially in Pune within this year. Another main usage of the funds will be utilized for turning k...