Hyperlocal delivery startups in milk and grocery segments are having a ball nowadays as subscription-based micro delivery startup DailyNinja has raised $3 million in a fresh round of funding led by Saama Capital. Existing investor Sequoia Capital also participated in the round.
In October, last year Entrackr exclusively reported about Sequoia leading $1.5 million Series A round in the Bengaluru-based startup. Notably, it was the first investment for Sequoia in this segment.
With the fresh capital, DailyNinja will strengthen its operations in Bengaluru and Hyderabad, where it claims to deliver milk and groceries to 25,000 households every day and eyes to expand its business in Gurugram as well.
Besides acquiring more customers, it will also allocate a part of the fund in upgrading customer experience by adding more offerings.
Founded by Sagar Yarnalkar and Anurag Gupta in July 2015, Daily Ninja allows users to subscribe for daily essentials such as milk, bread, eggs, curd, dosa batter, paneer and water cans among several others.
While many hyperlocal delivery startups shut down in the period of 2015-16 due to high logistics cost, DaliNinja claims to maintain a low operational cost in that period with a burn rate of Rs 15 lakh.
With the backing from Saama Capital, the startup aims to achieve 100k deliveries a day over the next 12 months, reveals its press statement.
In milk and grocery delivery, DailyNinja competes with Gurugram-based Milkbasket, Bengaluru-based Doodhwala, SuprDaily and Pune-based RainCan.
The development comes on the heels of a couple of acquisition talks in this space. On one had, flush with funds foodtech major Swiggy is in the final leg to acquire SuprDaily and on the other hand Alibaba-backed online grocer BigBasket also is in talks to take over RainCan.
As BigBasket and Swiggy are eyeing to grab a pie of loyalty factor through milk and other daily essentials requirement, the pure-play milk-tech will be handled by Milkbasket and DailyNinja.