<div><strong>By Simar Singh</strong><br><br>E-grocery start-up Satyacart has raised Rs 12 crore in its second round of angel funding from a group of high net worth individuals.</div><div> </div><div>The Gurgaon-based grocery delivery start-up. which deploys a system of data analytics to differentiate itself in a booming hyperlocal delivery space, says that it plans to use these funds over the next 12 months to concretise their technological backend and expand their management team.</div><div> </div><div>The company has also set itself on the path of raising a Series A Round of funding and has already initiated talks with several Private Equity firms and Venture Capitalists. Aiming to raise $10 million (around Rs 66 crore), Satyacart plans on syphoning these funds to expand into more locations and make individual geographies profitable.</div><div> </div><div>Speaking about the same, Satyacart’s founder and CEO, Rahul Hari, said, “The fund raised in quick successions highlights the confidence that investors have posed in our business model. We plan to use this Angel funding for strengthening our technology backbone and expanding our management team. Whereas, the Series A funding, to be raised shortly, will be used for geographical expansion. We are on track with our business mantra - Controlled expansion with an eye on profitability through operational excellence resulting in high customer satisfaction."</div><div> </div><div>The company which currently operates only in Gurgaon boasts of more than a 200 per cent growth in order volumes in the last two quarters. It soon plans to expand its presence to the rest of Delhi-NCR.</div><div> </div>
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