This is the second round of funding for DailyNinja after it raised a $1.5-million round in October last year from Sequoia Capital. This deal takes the total fundraising by DailyNinja to $4.5 million.
The Bengaluru-based startup intends to use the capital to expand its business by acquiring more customers across Bengaluru, Hyderabad and Gurgaon. In addition, the funds will also be used to upgrade customer experience by adding more offerings.
“With this fundraise, we plan to expand in new cities and capture a bigger customer base in our home city of Bengaluru,” said SagarYarnalkar, CEO and Co-founder of DailyNinja.
Yarnalkar founded DailyNinja along with co founder Anurag Gupta in September 2015. The company claims to deliver milk and groceries to 25,000 households everyday across the two cities. It had previously also raised funding from well known angel investors Kunal Shah and Sandeep Tandon of Freecharge, Aprameya Radhakrishna of TaxiForSure, Anupam Mittal of Shaadi.com and others.
“This round will help us achieve our objective of reaching to 100,000 deliveries a day over the next 12 months.Our focus will continue to be on scale while ensuring better experience for our customers, we plan to bring DailyNinja to Hyderabad and Gurgaon soon,” said Gupta, co-founder of DailyNinja.
MilkBasket raised $7 million in a Series A round of funding led by Kalaari Capital, along with BeeNext and existing investors Unilever Ventures and Blume Ventures last month, after raising $3 million from consumer packaged goods company Unilever Plc in January this year. In February, Doodhwala raised $2.2 million in a seed round of funding from venture capital firm Omnivore Partners.
According to a report by RedSeer Consulting in November, India’s online grocery market was expected to reach $1 billion in 2017, driven by strong growth in transactions and average order value.