Chennai, NFAPost: Hour Bazaar (1HB) has announced successful fund raising for its Online
Grocery Delivery Services launched last year during the pandemic.
Conceived by V
Vijayakumar and alumni of IIT Bombay and his sister Madhu Gayathri Vaithiyanathan,
alumni of IIT Madras this pioneered the concept of express delivery by promising the
customers delivery with an hour of order.
With unique and distinctive technological advantages, the Chennai-based startup is well poised to offer
customer delight in the coming days. Already the company has a loyal base of customers over
the last one year. The company has a strong professional team drawn from Banking, logistics and retail sector.
S V Raja Vaidyanathan till recently the MD of Asirvad Microfinance Limited has come on
Board with a 25% stake for an undisclosed sum in the company.
Vijayakumar, CEO of
Voice Gear Networks, said that the investment will enable to reach out to another 100,000
customers from present base by offering online grocery with superior service and at
affordable price.
He said that the 1HB app offers ease of ordering online grocery and backed
by quicker service delivery. He conveyed that 1HB has ambitious plans and this initial funding
from him and guidance will steer the company to greater heights in quick time.
S V Raja Vaidyanathan said that the business model is highly scalable and efficient and the
recent investment from him will enable to scale business in multiple locations. He is also from
IIT Madras and a MBA for IIM Calcutta besides being a qualified Cost Accountant and a
Company Secretary. With 4 decades of experience in Telecom, Retail, Financial Services he
brings in tremendous start up experience having worked in about 6 such projects two of which
he promoted. The MFI he was heading until recently was built from scratch to a 1400 branch
PAN India Rd 7,000 crore AUM company.
He had an Investment Banking company in the
nineties.
About One Hour Bazaar
1Hour Grocery is an online supermarket for daily essentials and groceries. We have a good
collection of products from most popular brands and you can choose from them. You can
place an order at any time and it would be delivered to your doorstep within 60 minutes. We
are operative in Chennai currently and would be expanding to other cities soon. You can pay
for your orders through Paytm wallet, debit / credit card, net banking and cash on delivery.
