Milk and grocery delivery startup DailyNinja has raised another round fresh led by Matrix Partners with participation from existing investors Sequoia India and Saama Capital.
The fresh capital for the Bengaluru-based startup comes just after three months when it raised $3 million from Sequoia and Saama. While the company didn’t disclose the amount it raised, according to Entrackr sources the round is in the range of $5 million.
DailyNinja will use the fresh proceeds to accelerate growth, expand footprint and hire talent, though it did not disclose the financial details of the deal.
The firm has a strong foothold in Bengaluru and has operations in Hyderabad and Chennai as well. With daily transaction of 35,000, it serves over 45,000 households across the cities. With fresh capital, it aims to clock 1,00,000 daily transactions in the next six months.
Sources also indicate that DailyNinja will expand into several cities including Mumbai, Pune, and Delhi (NCR) over the next six to eight weeks. The company has confirmed the expansion plan to Entrackr.
To establish its reach in Hyderabad, DailyNinja had recently acquired milk and daily essentials delivery platform – 4amShop – for an undisclosed amount.
The development comes at a time when the hyperlocal delivery segment is going through acquisitions, change in strategies and new players showing interest in it.
One of the largest funded startups in this segment Milkbasket’s CEO Anant Goel told in an interview that subscription-based grocery delivery doesn’t fit for the Indian audience.
Meanwhile, Kishore Biyani-led Future Group is also set to launch the home delivery service of daily essentials such as milk, eggs, and bread at customers’ doorstep.