Grofers, the online grocery delivery company, has reportedly changed its name to Blinkit amid growing competition in the fast commerce space. The rebranding suggests that Grofers will offer product deliveries in the blink of an eye.

The move comes at a time when the firm plans to secure USD 500 million in a fresh funding round from current investor Zomato.

According to Albinder Dhindsa, the Chief Executive Officer and Founder of Grofers, providing 10-minute deliveries is crucial in the current fast-paced lifestyle. Dhindsa noted that the delivery firm was performing nearly 1.25 lakh orders every day across 12 cities in the country.

The CEO added that the company has repurposed its team along with its infrastructure to pivot towards the quick commerce sector. The company will grow with a new identity and aims to provide magic-level instant deliveries, cited Dhindsa.

Interestingly, Grofers first spoke about Quick Commerce in November. Under its operational model, the company noted that it had hundreds of drivers for every two kilometers. In addition, Grofers has nearly 211 stores operating under its dark store network and were unveiling a store every eight hours. Such a dense network indicates that the company can already provide 10-minute deliveries to around 50 million customers.

Meanwhile, the delivery company has started including more electric vehicles. With increasing back-and-forth deliveries in the two-kilometer radius, the local deliveries will become carbon-neutral.

Grofers has strong competition in the form of BigBasket, Swiggy’s Instamart, Zepto, and Dunzo. Commenting on the rebranding, Harish Bijoor, the Founder of Harish Bijoor Consults Inc. expressed that this move will be successful if the company’s service can match the demands for instant commerce.

The rebranding takes place at a time when most competitors are raising capital to survive in this cash-hungry sector. Recently, Zepto raised USD 60 million in its first institutional funding round and is already holding talks for the next big round.

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