Back News / India Dealbook: Sixth Sense invests in Grab.
India Dealbook: Sixth Sense invests in Grab.November 24, 2015
Consumer centric venture fund Sixth Sense Ventures has invested an undisclosed amount in Mumbai-based hyper-local logistics service provider Grab. Beauty and wellness startup Stylofie has raise $250,000 (about Rs 1.65 crore) in seed funding from Hong Kong-based Swastika Company Ltd.Sixth Sense invests in hyperlocal logistics firm Grab
Consumer centric venture fund Sixth Sense Ventures has invested an undisclosed amount in Mumbai-based hyper-local logistics service provider Grab, according to a statement.Recently, online restaurant listing and food ordering startup Zomato also made a strategic investment in Grab to spruce up its delivery process, online restaurant directory and food ordering.While the recent strategic investment from Zomato will impart scale and ability to improve efficiencies, partnership with Sixth Sense will facilitate implementation and on-ground execution, the statement said.
“While the investment from Sixth Sense is highly valued, Grab really appreciates the Sixth Sense team who quickly identified the industry’s key aspects along with our strengths. The experience brought in by the Sixth Sense team is an asset to tap for Grab’s ongoing growth path,” Pratish Sanghvi, co-founder of Grab said.
Founded by Jignesh Patel, Nishant Vora and Sanghvi in 2012, Grab’s services encompasses restaurants, food tech companies, e-commerce platforms, laundry services, grocery platforms, pharmacy stores, and logistics aggregators. The company claims to have partnered with more than 450 merchants across seven cities, and delivering over 4000 orders per day.
“We believe that the biggest challenge of customer acquisition is taken care of, with strategic partnerships with the largest players in food and logistics space. We like the space, the promoters and the value proposition of hyper local,” said Nikhil Vora, founder and CEO of Sixth Sense Ventures.