Serial entrepreneur and Flipkart co-founder Sachin Bansal’s firm, BACQ, has invested INR 20 crore in daily grocery delivery service, Milkbasket. Founded by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, Milkbasket’s vision is to become the default mom-and-pop outlet for over a million households by 2021.
Launched in 2015, Milkbasket claims to be India’s first and largest daily grocery delivery service. Having achieved positive unit economics within six months of its launch, it has operations in Gurugram, NOIDA, Ghaziabad and Bangalore. The company has raised close to $16 million from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures. On an aggressive growth track, Milkbasket recently acquired Veggie India to further deepen its footprints in the Delhi NCR region.
Anant Goel, co-founder and CEO of Milkbasket said, “We are now working on the next set of innovations to further consolidate its market leader position across the fresh produce offering, automating the daily delivery supply chain and reducing go-to-market time for multi-city expansion. These funds would provide us the needed CAPEX and RD investments in all the three domains.”
Built on the Indian habit of getting fresh milk delivered home every morning, Milkbasket attempts to fulfill a household’s daily grocery needs before 7:00 a.m. It has built a new age technology platform to enable frequent and frictionless buying with features like one-click buying, no checkout and contactless delivery.