Ajeet Khurana one of the early investor in subscription based daily needs supplier startup Raincan said that the startup raised INR 1 crore in a follow-on round. Among the investors Dr. Aniruddha Malpani is the primary investor.
Raincan is a subscription based prepaid solution that provides daily essentials, especially perishables, to customers on a prepaid subscription basis. Raincan’s main range of products are fresh dairy, bakery, fruits and vegetables. Raincan is currently doing approximately 2000 orders a day from delivery centers in Pune. Raincan distinguish itself from other players in the same segment by handling operations and logistics completely by its own team. This gives them the advantage of delivering perishables products within 3 hours around Pune city.
Raincan has Android and iOS mobile app, one can subscribe from the app as per their needs of products. Subscription can be managed easily by anytime having a pause, start or even stop. As it is a prepaid service balance in one’s account it refundable. Raincan has introduced small top-up option in case you need to order small product or quantity. You can view your order history and refer to friends and earn Raincan Cash.
Since its inception Raincan has grown to team of 30 people in Marketing, Operations and Technology. Both the co-founders, Munendra Singh and Abhijeet Kumar are from IIT Bombay batch of 2005. The two share same passion and had worked on multiple assignments together.
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.