In an important development in the online retail market, MandiExpress has said that it has closed a $725,000 Pre-Series A Round from Lakson Venture Capital and Disrupt.com for scaling across the country.
Mandi Express is an online fresh produce and grocery delivery service and has a data-driven approach for fulfilment of business-to-business (B2B) and business-to-consumer (B2C) orders. Mandi Express has documented the value-chain at the Karachi ‘Sabzi Mandi (vegetable market)” and utilises a vertically integrated technology platform which autonomously collects price data for its buyers located at daily auctions.
The Lakson Investments Venture Capital (LIVC) led the funding round. The LIVC is a leading technology-focused Institutional VC fund and the Securities and Exchange Commission of Pakistan (SECP) regulates it.
Private investor Disrupt.com (Disrupt) followed-on in this round. It is noteworthy that Disrupt.com (Disrupt) has been supporting MandiExpress since the seed stage.
