Grofers rebrands as “blinkit” to point out quick commerce focus. The co-founder of Grofers, Albinder Dhindsa has written in his blogposts that, Grofers has rebranded as Blinkit as the company has placed a huge bet on quick commerce space (10 minutes grocery delivery).
At the time a few months before, our journey to build the future of commerce within 10 minutes delivery was started and most of our customers needed the daily stuff for daily usage. However, now we have already covered millions of orders in just a week, beyond 12 cities in India. And it’s just a starting point, addressed in a company blog by Dhindsa.
Dhindsa wrote, presently we are emerging as a new company along with a new statement of our mission, “immediate commerce imperceptible from magic” and we are not doing this as Grofers for a longer time, but we will be doing this as a Blinkit. And as a Grofers we have learned a lot and our infrastructure and our team is being recreated to pivot something market fit mind-blowing products along with quick commerce.
Earlier, in this year after raising around $120 million from Zomato Ltd. Food aggregator and from existing investors like, tiger Global Management, as a part of current growth, the Grofers had recently gained the status of the unicorn ($1 billion estimations).
The company was offering partnerships with the owners of local stores, in order to increase its quick commerce offerings across multiple cities and by following dark store strategy which is devoted towards online e-commerce delivery.
Some of the local merchants were putting their own investments for setting up stores with Grofers for helping in finance, said by Dhindsa in the interaction earlier. But currently, the company is going through tough competition from the giant Swiggy food tech, which is particularly aiming 15 minutes delivery via its quick grocery startups and Instamart offerings and at the other hand Zepto which is boosting up its play in the space.
Previously in this month, Swiggy which is at the mid-point of raising huge funds globally, addressed that it will invest around $700 million in its services of express delivery Instamart, as it is thinking to grow non-food categories of delivery.
According to the report of Redseer, the sector of quick commerce in India presently is $0.3 billion and is predicted to grow to $5 billion by the year 2025.
