Emerging food delivery startup, Grab.in, has raised a funding of Rs 9 crores ($1.5m) from SIDBI Venture Capital, the wholly owned subsidiary of SIDBI, as reported by YourStory and MoneyControl. With the current funding, SIDBI will be joining the list of Grab's investors that include Aramex Ventures, Zomato, and Sixth Sense Ventures. The Mumbai-based startup had earlier raised $1 million from Oliphans Capital and independent investor Haresh Chawla in April 2015, while Zomato had invested an undisclosed amount in the startup five months later.

Legasis Partners advised Grab.in in the fundraising and was represented by partner Apurv Sardeshmukh, senior associate Hardik Thakker and associate Rhythm Nadda.

ALMT Legal acted for SIDBI and their team was led by then-senior associate Pranav Jain (who has since joined MDP & Partners) and associate Ankit Parekh.

Founded in 2012 by Jignesh Patel, Nishant Vora and Pratish Sanghvi Grab.in, formerly known as Grab a Grub Services, operates in 23 cities across India and offers its logistics services ranging from last mile, first mile to on-demand to various online and offline businesses encompassing restaurants, grocers, e-commerce platforms, banks, and pharmacies. It was also reported that the current investment is expected to help Grab scale up their smart locker platform and crowdsourced distribution centre model.

2018-02-22