With groceries as a starting point, EkStop wants to become an online hypermarket; close to raising $2.5M
EkStop, an online store dealing in grocery and daily essentials, wants to become an online hypermarket. The company was doing around 165 orders a day as of May this year, with the average transaction value pegged at Rs 1,200-1,300. Currently operating only in Mumbai, the startup is now looking to expand into other cities such as Delhi, Bangalore and Pune.
The Mumbai-based startup was founded by Sumat Chopra (CEO) and Shaurya Mehta in May 2012. It is now close to raising $2.5 million in its Series A funding. The startup earlier raised angel funding from a group of investors, including Jayesh Parekh (co-founder of Sony Entertainment Television), Deepak Shahdadpuri (head of Beacon India Private Equity Fund), Patrick Turner (he runs the entrepreneurship department at INSEAD), Jungle Ventures, Sanjay Kamlani (co-chief executive of Pangea3), and some senior executives of Google and McKinsey.
In a chat with Techcircle.in, Chorpa talks about the company, its business model and the vision to become an online hypermarket.