Satvacart to raise another $2 mn in current round of funding

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e-Grocery retailer Satvacart said it is keen to raise another $2 million in current round of funding, in which a clutch of individuals, including Abhijit Avasthi, Karan Chellani and SP Vijay have already invested an undisclosed amount.
According to a PTI report: The company has also appointed three senior industry professionals – Abhijeet Avasthi (Sideways), Sameer Bagul (EVP and CFO, Cleartrip) and Sri Ramakrishnan, a marketing veteran with 20 years’ of experience and a visiting faculty at IIMA with expertise in eGrocery – to its Board of Directors.
While Karan Chellani is Partner in Grace Capital, S P Vijay is Founder of Tarento Software, Bangalore.
“Having achieved operating level break-even within 14 months of launch following the vertical expansion strategy, we are now targeting full break-even,” Co-founder, Satvacart, Rahul Hari was quoted by PTI as saying.

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