Milkbasket raises $7 million from Kalaari, others
Mumbai, May 22 (PTI) Grocery delivery startup Milkbasket has raised USD 7 million in Series A funding round, led by Kalaari Capital.
Singapore-based BeeNext and existing investors, Unilever Ventures and Blume Ventures, also participated in the round, the company said in a release today.
The funds will be used for innovations in supply chain efficiencies and last mile logistics, it added.
Anant Goel, chief executive officer, Milkbasket, said this funding will help the company to continue investing in talent, technology and territory.
With this funding round, the company has raised USD 10 million from Kalaari Capital, BeeNext, Unilever Ventures, Blume Ventures and Lenovo Capital. It had also raised USD 1 million in seed and angel investment from a clutch of Chinese venture funds and domestic angels including Milkbasket customers earlier.
The startup claims to have achieved positive unit economics within first six months of inception and offers flexi-ordering till midnight, with delivery by 7 am, with a no-minimum-order and free delivery model. PTI DSK SS SS SS SS