10th August 2015, Pune : RainCan, the subscription based food delivery service, has raised a funding of USD 100K from Angel Investor Ajeet Khurana and others. This investment will help the company grow from 100 orders a day to 500 orders a day. RainCan is expected to reach their target of 500 orders per day within a month. The company will also start looking for their next round ie USD 1 million in funding to achieve a scale of 5000 orders per day.
RainCan currently operates only in Pune and is the creation of 2 IIT Bombay engineers with more than a decade of experience- Munendra Singh and Abhijeet Kumar.
RainCan is a subscription based service provider dealing largely in dairy, meat, bakery, fruits and vegetables. Subscribers also have top up services where they can order daily essentials which can be delivered during daytime. RainCan is designed to add value at both ends of the chain: Distributor & Customers. Value through simplification, accessibility, variety, comfort, reliability and money.
“We provide subscription-based services for morning essentials like dairy, bakery, eggs etc, where we deliver everything fresh on a daily basis as per customer requirements, ” said Munendra about his venture.
RainCan is also making heavy use of technology such as pre-emptive analytics, wherein they use data science to figure out what a specific customer wants, even before the customer knows it!
“Currently the whole segment is very unorganized which means limited product choices, lack of a user interface, and high service charges. We are providing our customers with solutions which help them track their daily delivery schedule, modify it, pay online, and most importantly plan their daily/weekly requirements,” Abhijeet has said.
“Some of the greatest opportunities arise from adding an intelligent tech layer to smooth out inefficiencies in offline processes. That’s what RainCan is doing, and I am impressed, ” Ajeet Khurana said while commenting on the investment.