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Milkbasket acquires Veggie India for an undisclosed amount.
Milkbasket has raised $7 Million in series A funding round led by US-based early-to-growth-stage venture capital firm Mayfield Advisors.
Milkbasket has till now raised total $16 Million.
Post-acquisition Milkbasket will have a customer base of 75,000
Milk and grocery delivery startup Milkbasket acquires Veggie India a Noida based grocery delivery platform. The amount of deal is not disclosed by the parties. Milkbasket did so for strengthening its foothold in the Delhi NCR region and expand its household base to more than 1,00,000. Co-founder of Veggie India Shailendra Upadhyay and Jainender along with their complete team will join Milkbasket. According to the statement of company, this deal has enhanced customer base of the company to 75,000.
Veggie India was founded in 2017 and is operated by Ocado Garden Fresh. It provides its services in Noida and Ghaziabad. The firm operates a mobile app, assists users to choose from more than 3,000 products including organic products, fruits and vegetables, packed and frozen food, kitchen and household essentials and beauty and hygiene products. The app says to have more than 5,000 users mainly from Noida and Ghaziabad, according to Google Play store page Information.
Milkbasket is founded in 2015 by Anurag Jain, Ashish Goel, and Yatish Talavadia. It is currently in Gurgaon, Bengaluru, Delhi, and Noida. Prior to this acquisition Milkbasket raised $7 Million in series A funding round led by US-based early-to-growth-stage venture capital firm Mayfield Advisors.
On comparing Milkbasket with giants of online grocery delivery market including Amazon, Grofers, and Bigbasket. Milkbasket keeps itself as the online version of local mom-and-pop grocery stores but with more stock keeping units. It supplies endable and nonendable items that are brought on small quantity but bought several times.
The company has more than 5,000 stock-keeping units that cater to 11,000 orders a day. Milkbasket has till now total raised $16 Million from Kalaari Capital, Mayfield Advisors, Blume Ventures, Unilever Ventures, Beenext and Lenovo. Anant Goel, CEO of Milkbasket said about the acquisition, the acquisition will assist in strengthening distribution capabilities to the existing business. Presently there are several startups that are focused on milk deliveries including Doodhwala, MilkBasket, and DailyNinja.
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