In a fresh funding round, hyperlocal subscription-based delivery startup DailyNinja has raised $3 million led by Saama Capital. Existing investor Sequoia Capital also participated in this funding round.
The company will use raised funds to expand its services and grow its business by acquiring more customers across Bengaluru, Hyderabad and Gurugram. Besides, the funds will also be used to upgrade customer experience.
Anurag Gupta, co-founder of Dailyninja said, “This round will help us achieve our objective of reaching to 100k deliveries a day over the next 12 months. Our focus will continue to be on scale while ensuring better experience for our customers, we plan to bring Dailyninja to Hyderabad and Gurgaon soon.”
Founded by Sagar Yarnalkar and Anurag Gupta in 2015, DailyNinja provides everyday essentials. The startup delivers daily essentials such as Milk and Groceries to 25,000 households every day across the Bengaluru and Hyderabad. The company further expects to increase it to 150,000 in next one year. DailyNinja works on the subscription-based model and has local vendors who deliver groceries at customer end.
“We have been impressed by the way Sagar and Anurag have built significant traction in a very capital efficient manner and with a sound growth strategy. We believe the time is ripe for a rapid acceleration in this segment and we believe this is the right team who can execute and scale,” said Saama’s managing partner Ash Lilani, who will join the company’s board.
With the current round, the total capital raised by DailyNinja stands at $4.5 million. In a venture round, the startup previously raised about $1.5 million from Sequoia Capital in October 2017. Prior to that, it has raised pre-Series A funds from a group of investors, led by existing investors Aprameya Radhakrishna, founder of TaxiForSure and Venk Krishnan of NuVentures.
In September 2015, it secured seed funding from Radhakrishna, FindYogi’s Naman Sarawagi, Delyver’s Afsal Salu and six others.