Milkbasket is a hyperlocal delivery service startup in India. The company closed a fresh round of investment of $5.5 million led by Inflection Point Ventures. The report names Inflection Point Ventures as the lead investor and does not list other participants. Management says the company plans to turn profitable in 2020. The article did not disclose the instrument used in the round, past funding rounds, or the founding year. Milkbasket operates a morning micro-delivery service focused on milk plus a selection of groceries and daily essentials, delivered to customers’ doorsteps by its own fleet. The company says it has a 400,000-plus customer base and has delivered over 10 million orders in the last four years. According to the company and RoC filings, it was growing at 7X and closed FY18 with Rs 35 crore in revenue. Milkbasket claims an average of 20 orders per customer per month and that 70% of revenue comes from non-milk items, indicating strong stickiness and cross-sell. The startup has expanded into Bengaluru, Hyderabad, Noida and parts of Delhi. It faces intensified competition from well-capitalised players such as BBdaily, Dailninja and Suprdaily. Launched in early 2015, Milkbasket began by delivering fresh milk every morning and has expanded into daily delivery of fresh produce and staples. The company operates in Gurugram, Noida, Ghaziabad and Bengaluru and says it achieved positive unit economics within the first six months of launch. Founders include Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia. Milkbasket recently acquired Noida-based Veggie India to deepen its Delhi NCR footprint. Management says it is working on innovations across fresh produce, automating the daily delivery supply chain, and reducing go-to-market time for multi-city expansion. The company has a stated vision to become the default mom-and-pop shop for over a million households by 2021. Milkbasket is an Indian grocery delivery platform that offers last-mile grocery deliveries. The company operates a grocery delivery platform in India. It has secured $7 million in a Series A funding round. The Series A was led by venture capital firm Kalaari Capital. The funding round was completed less than six months after the company’s previous fundraising. The articles do not disclose additional operating metrics, valuation, or detailed use of proceeds. Milkbasket is a grocery delivery platform. The company secured $3 million in a Pre-Series A round led by Unilever Ventures Ltd, the investment arm of Unilever Plc. The article provides no details on the company's product features, geographic focus, user base, revenue, or other operating metrics. It does not state how the company plans to use the proceeds or describe any strategic partnership beyond the lead investor. No previous funding rounds, founding year, or location are mentioned in the article.

Total raised

$29M

Funding rounds

6

Latest round

Series B

Latest activity

Jun 2020