12 April, 2016, Pune: Completing its additional round of funding, Raincan has managed to raise Rs one crore in a round which was headed by Dr. Aniruddha Malpani. The company plans to utilise the funds in enhancing its technology, strengthening its team and developing its marketing strategies.
Raincan is a subscription based prepaid solution that provides daily essentials, especially perishables, to customers on a prepaid subscription basis. Its main range includes dairy, bakery, fruits, & vegetables. It claims that currently, company processes approx 2000 orders a day from delivery centers in Pune. One way in which Raincan is different from other players in this space is that logistics and operations are completely owned by Raincan.
The company is a joint venture of Munendra Singh and Abhijeet Kumar and currently carries its operations with the team of 30 people. Abhijeet has worked earlier on startups like Kisanbandhu and Bitsatrace. Before starting RainCan, he was working as Forecasting and Supply Planning Architect for major FMCG companies across the globe. Munendra has worked earlier on Bloomskart (with Abhijeet) where he was growing exotic vegetables and flowers (in Rajasthan) and selling to major wholesale markets across north India. He has also worked as part of the Investments team at ICICI Prudential Life Insurance and Deutsche bank in past.