Subscription-based daily needs platform Supr Daily has raised Rs 10 crore from a consortium of Silicon Valley angels. According to the Economic Times report, Soma Capital, Great Oaks Ventures, 122 West Ventures, Y combinator partners – Paul Buchheit, Jared Friedman and few others also participated in the round.
Supr Daily is a subscription based platform that delivers daily consumable goods such as milk, bread, eggs, and coconut water to its users every morning.
“Supr Daily is solving an original Indian problem with unique insights about the Indian market. Their approach to building an everyday supply chain by piggybacking on the daily milk habit is truly remarkable,” said Jared Friedman, partner at Y Combinator.
Floated in 2015 by Puneet Kumar and Shreyas Nagdawane Supr Daily follows a farm-to-consumer model where they directly procure the goods from farmers and producers.
Currently, Supr Daily is operational in 15 neighbourhoods in Mumbai, however it plans to offer services to 100 neighbourhoods before the company scales to other cities.
The year old company claims to have dispatched more than a million deliveries since inception and snaps up higher margin when compared to the industry average of three to four per cent.
By eliminating middlemen in the process, the company has been able to cut delivery cost and spruce up margin ranging between 10 to 15 per cent on every order.
Earlier, the company had raised seed round from a clutch of investors including Apoorv Ranjan Sharma, Anil Jain, Anuj Golecha, Krishna Jhunjhunwala, and Anirudh Damani.
Snapdeal’s founders – Kunal Bahl and Rohit Bansal also invested in the company at very early stage.
Of late, we don’t see many companies getting into subscription-led model for daily needs. Besides Supr Daily, Gurgaon based Milkbasket is trying this model in selected areas of the city. The company had raised $500,000 in its pre-Series A funding from EVC Ventures; Zhu Dao Investments and others.