HYPER GROCERS PRIVATE LIMITED

In their own words

Introducing fresh produce logistics startup, Hyper Grocers Private Limited Under the Brand Name of My Mandi which is a B2B logistics and demand generation platform that aims to aggregate the existing cart-pusher community by providing a one-stop shop, an online platform and later other value added services (Fintech, EV and Microlending) in a phased manner. By doing so we aggregate and support India’s largest last-mile delivery network that brings the market to your doorstep targeting tier 2 & tier 3 cities. Currently, most of the cart-pushers face three main challenges which we aim to solve: 1. Time & Logistics issues: Cart-pushers around the country spend early hours from 3 am - 6 am in overcrowded mandis to procure their day's produce to sell. Usually the location of business is far from the local mandi which forces them to either push heavy loads over long distances or pay high transport costs. Solution: Hyper Grocers Private Limited (My Mandi) does the full procurement for the cart pushers through its one stop shop solution and provides them with the order at the point of sale without any extra delivery cost. This saves them time, effort and approx Rs 10,0000 per month (on logistical costs). 2. Unorganized market: As an individual cart-pusher, the micro-entrepreneur has no economies of scale therefore they are not able to obtain good rates for high quality produce. The multiple levels of intermediaries at the mandi charge high margins without extra benefits. Our vendor facing app will allow for a seamless demand generation and forecast from the cart pushers. Solution: Through the aggregation of the cart pushers (Thela wallas) we plan to create economies of scale for the procurement of fresh fruits and vegetables. This allows us to purchase higher quality produce at lower prices. 3. Skilling and Enabling: The cart-pusher community is largely untapped and shows great potential for upskilling via the enablement of technology. By introducing the vendor & customer apps, micro lending and better mobility via EV’s, the community will have an online presence to help boost sales along with improved quality of life. Solution: Through skilling and providing features like a customer facing app, micro lending, UPI and EVs we aim to enable the cart pusher to sell more, faster and be competitive in the market. This also provides a strong value proposition for them to join the platform. Although there are no direct competitors to our business model, companies in the industry such as Big Basket and Grofers are highly inventory led and high on OPEX. Hyper Grocers Private Limited (My Mandi) provides an alternative by optimizing procurement due to highly precise demand forecasting eliminating waste and need for cold storage while enabling micro-entrepreneurs and eradicating the cost of last mile delivery. Target Market: The cart-pusher market (GMV) is approximately $10B in tier 2 & tier 3 India and the total addressable market for Hyper Grocers Private Limited (My Mandi) is close to $1B across 50 tier 2 cities. The market is growing at 7% CAGR and with COVID19 we strongly believe the CAGR could exceed 10% over the next few years and new opportunities will emerge in the market. Traction - In under 8 months Hyper Grocers Private Limited (My Mandi) has grown 15x from INR 1L in July 2021 to INR 15L in April 2022 and has aggregated over 50 cart-pushers in the city of Gwalior, Madhya Pradesh. - Hyper Grocers Private Limited (My Mandi) has been fully operational during Covid lockdown and has grown to a GMV of 90L from July 2021 to March 2022 - The business plan forecasts sales of INR 1642 crores with a gross margin of 25% across a total of 5 plus cities in 2023-24. This will be achieved by on boarding 15000 cart pushers in 5 cities with an average daily order value of Rs 3000. Team: Hyper Grocers Private Limited (My Mandi) has a 25-member strong team with varied backgrounds consisting of passionate people having a strong ambition, skill and experience to scale the model. The core team has a combination of technical, supply chain, operational and sales experience with a strong educational background. - Suryansh Rana, Founder & COO graduated from UCLA in 2019 with a degree in Electrical and Computer Engineering. Worked with multiple EV companies in Los Angeles. Developed front-end and backend technologies using multiple stacks. Experience in aggregation of kirana stores in tier 2 and tier 3 cities. - Mahanaaryaman Scindia, Founder & CFO graduated from Yale with a degree in Political Science and Economics. Has 4+ years experience in operations and growth with BCG. Family ackground in agriculture giving 15+ years experience in farmers markets (mandis) by working with them directly. Fundraise: 25% of the round is committed by Prophetic Ventures and other angel investors. Core differentiation from direct / indirect competitors: - First mover

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