Gurugram-based Milkbasket has raised $7 million in series A round of funding led by Kalaari Capital. The round also saw participation from BeeNext and existing investors Blume Ventures and Unilever Ventures.
The fresh capital will be deployed in supply chain efficiencies and last mile logistics, creation of unique customer propositions and delivering exceptional customer experience and expand into other geographies in 6-12 months.
“This funding will help us to continue investing in the 3Ts that we hold close to our hearts – talent, technology and territory, and in achieving our vision to create the most convenient grocery fulfilment model for today’s busy households,” said Anant Goel, CEO at Milkbasket.
Founded in 2015 by Anant Goel, Ashish Goel, Anurag Jain, and Yatish Talvadia, Milkbasket is a micro-delivery platform fulfilling daily dairy essentials and household needs of customers. It offers milk and perishables as well as household items through its own warehouse and supply chain.
“Strong founding team, focus towards data-based decision making, operational rigor, and incessant focus on customer delight, backed by a large market opportunity in the grocery space culminated into us leading a $7M Series A round into Milkbasket,” said Vani Kola, MD at Kalaari Capital.
Currently, Milkbasket claims to have a reach to 40,000 households in the millennium city.
This is the second time for the startup to raise equity funding this year. Earlier, Milkbasket has raised $3 million in Pre-Series A round of funding from Unilever Ventures in January 2018. Previously, it raised a total of $1 Mn in seed and angel investment from a clutch of Chinese VCs and domestic angel investors.