Grocery delivery startup Milkbasket has raised $7 million in its Series A funding led by Mayfield Advisors.
Bengaluru, 19 Dec, 2018. RedNewswire/-
Existing investors Kalaari Capital, BeeNext, Blume Ventures and Unilever Ventures also participated in the funding round. Milkbasket, Gurugram-based Grocery delivery platform.
This round brings a total Series A funding of $14 million to the Gurgaon-based startup.
The funds will be used to expand its business into newer cities and double its headcount to 2,000 by early next year.
Milkbasket was founded by Anant Goel, along with his co-founders Anurag Jain, Ashish Goel, and Yatish Talavdia in 2015.
“The funds will also enable us in investing adequately in developing the technology and hiring for the next growth phase.” Anant Goel, chief executive officer at Milkbasket.
“We are excited to support the Milkbasket team in chasing their impressive mission of making grocery delivery as hassle-free as possible. Regarded as the future of the industry, the company’s pioneering model has reinvented everyday lives of its customers,” said Nikhil Khattau, MD, Mayfield India.
“Grocery delivery industry in India is a specialist play, and Milkbasket’s demonstrated expertise, and acceptability makes us confident about the company’s exceptional growth potential,” he added.
US-based Mayfield Advisors is a venture capital that invests in consumer and enterprise companies across non-tech, tech-enabled, and technology verticals.
It has backed several companies, including meat start-up Licious, online food ordering platform Box8 and education start-up Simplilearn.
Milkbasket is currently operational across Noida, Gurugram, and Ghaziabad, fulfilling daily grocery and dairy requirements of its customers.