- As part of the restructuring, Baxi would be rebranding itself as B-fresh and would be operating as a delivery service.
- The firm has brought on over 800 delivery executives to its platform and would be delivering dairy & grocery products from more than 2,000 stores.
Baxi, a bike taxi service that is owned & operated by Gurgaon-based tech firm 74 BC Technologies, has reportedly announced that it has pivoted the company’s structure towards a hyperlocal delivery model with two major FMCG brand tie-ups.
Reports cite, the company, under its latest initiative, has partnered up with dairy industry giant Mother Dairy as well as India’s home-grown brand of consumer goods, Patanjali. The firm is reportedly in the final stages of rolling out its hyperlocal delivery services.
According to a report by Entrackr, as a part of the shift, Baxi has also re-branded itself as B-fresh with a brand-new smartphone-based delivery app. Moreover, under the new hyperlocal delivery model, the company has also brought on more than 800 delivery executives to its delivery platform and would be delivering dairy & grocery products from over 2,000 stores through its partnership with Mother Dairy.
The company would be initially delivering the goods to its customers throughout Gurgaon and would also be active across certain areas of the nation’s capital Delhi, cite sources privy to the matter.
The Chief Executive of B-fresh, Ashutosh Johri stated that the idea behind the move was to partner up with major retail chains, who possess a considerable physical presence yet not enough to warrant them developing their own smartphone app.
B-fresh reportedly follows similar model to that of Instacart Inc., a U.S-based grocery delivery services company, which successfully closed a $600 million funding round recently, valuing the startup at about $7.6 billion.
According to reports, B-fresh has entered a competitive market space and would be competing with established players such as SoftBank-backed Grofers as well as Alibaba-backed online grocery store, BigBasket.