Bengaluru-based hyperlocal startup, DailyNinja has raised an undisclosed amount in a new funding round from Matrix Partners India. Existing investors like Sequoia Capital and Saama Capital participated in the current round.
The current funding round comes just a few months later when the startup last raised Rs 20 crores in series A round in June 2018. The current funding will help Daily Ninja to expand the geographical footprint, boosting operations, and hiring talent across the business functions.
Commenting on the investment Anurag Gupta, co-founder of DailyNinza said, “These are exciting times for our segment. We will continue to focus on our expansion strategy across multiple cities. We will also be hiring aggressively.”
The three-year-old startup currently operates in Bengaluru, Hyderabad, and Chennai, serving over 35,000 orders per day. Further, DailyNinza plans to scale it 1,00,000 in daily orders in the next six months.
The company has already started expanding its user base. Last month, it has acquired Hyderabad-based milk and grocery delivery startup 4amShop. Furthermore, it plans to launch its services in new markets like Mumbai and Gurgaon.
Founded by two BITS Pilani graduates Sagar Yarnalkar and Anurag Gupta in 2015, DailyNinza is a hyperlocal platform for daily essentials such as dairy, grocery, vegetable and other requirements. The startup partners with daily essential providers such as milkmen, milk brands and business-to-business grocery distributors to supply to its customers.
“Daily consumption of milk is an India-specific habit. DailyNinja has been able to leverage this habit to create a pipeline to customers’ homes, and has built an attractive business on top of this distribution channel,” Gourav Bhattacharya, director at Matrix India said.
There are other well-funded players operating in the hyperlocal delivery segment. The sector has seen its fair share of ups and downs in the startup ecosystem. At present, DailyNinja competes with players such as Milkbasket, SuprDaily and Doodhwala and others.