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Tue May 22 2018
| 4 months ago

Milkbasket raises $7M in Series A funding

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Gurugram-based Milkbasket has raised $7 million Series A funding led by Kalaari Capital. The round also saw participation from Singapore-based BeeNext and existing investors, Blume Ventures and Unilever Ventures. This is the second fund raise for the company this year. Earlier in January, the company had raised a pre-series A funding of $3 million led by Unilever Ventures. Founded in 2015, Milkbasket is a micro-delivery platform founded by Anant Goel, Ashish Goel, Anurag Jain, and Yatish Talvadia. The funding will be used for further innovations in supply chain efficiencies and last mile logistics, creation of unique customer propositions and delivering exceptional customer experience, and expand into other geographies while penetrating into existing communities. The platform offers an early morning, contactless, micro-delivery model, which follows a newspaper and milk supply chain models. Starting with milk and breakfast products, Milkbasket now focusses on complete delivery. The team claims to touch over 40,000 households across over 180 communities in Gurugram. Milkbasket operates with a full stack in-house supply chain model, achieved positive unit economics within first six months of inception and has introduced the industry’s first flexi ordering till midnight, delivery by 7 am, no minimum order and free delivery model.

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