"I think existing e-commerce is too slow and built for an experience that is far behind what customers want, Kumar told Moneycontrol in an interaction.
Three months after exiting Grofers, co-founder Saurabh Kumar has launched his new venture called Warpli, a full fledged online marketplace which will compete with incumbents such as Amazon and Flipkart in the hyper competitive market.
"I think existing e-commerce is too slow and built for an experience that is far behind what customers want. Customer expectations are evolving faster than what current e-commerce can keep pace with," Kumar told Moneycontrol in an interaction.
Kumar exited Grofers in July at a time when Zomato was planning to invest in the online grocer.
The deal got signed up in July which saw Grofers raising $100 million from Zomato and entering the much coveted unicorn club.
Interestingly, Kumar has announced his new venture ahead of the flagship festive season sale of Amazon and Flipkart which is scheduled to begin from October 3.
Also read: Fear of competition in pandemic-struck market forces Amazon, Flipkart to launch festive sale during Shradh
On being asked why he was looking to venture into this over funded and saturated space, he said, "If money was the only problem then no new company will ever come."
While Amazon has invested more than $5 billion in India since 2013, Flipkart has invested over $7 billion.
Through Warpli, Kumar is trying to get the products delivered to customers in just a few hours if not minutes.
"Majority of these products are in the market around you," said Kumar stressing upon the need to get the products delivered quickly to consumers instead of waiting for a couple of days.
Currently e-commerce companies take around 2-5 days to deliver products across the country.
Warpli is hiring engineers and product managers and plans to launch the marketplace in a couple of months.
So far, Kumar has bootstrapped Warpli and will look to raise funding shortly. Kumar who continues to remain a board members and a stakeholder at Grofers has no plans to exit as of now.
Interestingly, Grofers is also experimenting with express delivery in the grocery space and recently announced expansion of 10-minutes delivery across 10 cities in the country.
According to a recent report by consultancy firm Redseer, India's e-commerce industry is estimated to clock $55 billion in sales during 2021 with the addition of 40 million new online shoppers.
At the same time, quick commerce, which is defined as the delivery of items under 45 minutes, is expected to grow by 10-15 times in the next five years to become a $5 billion market by 2025.