Gurugram-based Grocery delivery platform Milkbasket has raised $1.37 million in a fresh funding round from US-based venture capital firm Mayfield Fund
13th Nov, 2018. RedNewswire/-
The funding has been reportedly raised at a valuation of $22-23 million. As part of the investment, Nikhil Khattau, managing director at the VC firm, has joined Milkbasket’s board.
Milkbasket was founded by Anant Goel, along with his co-founders Anurag Jain, Ashish Goel, and Yatish Talavdia in 2015. It started by catering to the unique Indian habit of getting fresh milk delivered at home every morning and then expanding into groceries as well.
The startup provides a convenient and flexible ordering system which enables consumers to track expenses, set vacation time-offs, and create repeat orders based on requirements. It now now gets more than 11,000 orders a day, having more than 5,000 SKUs. It is currently operational across Noida, Gurugram, and Ghaziabad, fulfilling daily grocery and dairy requirements of its customers.
In May, Milkbasket had secured $7 million in its Series A funding led by venture capital firm Kalaari Capital. The round saw participation from Singapore based BeeNext and its existing investors, Unilever Ventures and Blume Ventures.
In January this year, it secured $3 mn from Unilever Ventures, the investment arm of FMCG major Unilever, with participation from existing investors.