An innovative, habit-forming app Supr Daily has raised $120,000 from Y Combinator as part of the world-leading accelerator’s mentorship programme. The Venture Catalysts’ backed start-up is part of its three-month winter programme in Silicon Valley, which ends this month. Supr Daily is one of the 12 Indian start-ups to have been picked by Y Combinator this winter.
The subscription app delivers daily consumable goods such as milk, bread and eggs to users. India’s leading and fastest-growing seed investment and innovation platform, Venture Catalysts, has enabled an undisclosed seed investment into the Mumbai-based start-up in December 2016.
Founded in 2015 by Puneet Kumar (alumnus, IIT-Bombay) and Shreyas Nagdawane (alumnus, IIT-Bombay and IIM-Bangalore), Supr Daily follows a direct-to-consumer model adopted from the daily milk use-case in India to make deliveries, which has allowed it to bring down the delivery cost per order to as low as INR 1-3 as compared to the e-commerce benchmark of INR 50. Its novel business model has enabled Supr Daily to already achieve operational profitability, and was instrumental in helping it secure a previous seed investment from Snapdeal founders Kunal Bahl and Rohit Bansal, two of the leading names in the Indian entrepreneurial and angel investment landscape.
Speaking on the achievement Venture Catalysts Co-Founder Dr. Apoorv Ranjan Sharma, said, “It’s really great to see two highly-promising companies from the Venture Catalysts’ portfolio being selected in the Y Combinator programme. What the team at Supr Daily is doing in the daily needs market is extremely unique. By building an exceptional delivery infrastructure from scratch, they have already taken the last-mile delivery cost down by more than 90%. We are extremely excited to see their further growth post the three-month mentorship program in Silicon Valley. We are delighted to have innovative ventures such as Supr Daily and Innov8 in our portfolio of investee companies, and will be paying close attention to their future growth and scale.”
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Supr Daily’s doorstep delivery and convenient management of subscription has driven great consumer traction, allowing it to serve close to half a million orders till date. Currently active in many parts of Mumbai, the platform will be using the funds raised through this round to scale up its pan-Mumbai operations in the next 6 months.
Shreyas Nagdawane, Co-founder, Supr Daily, said, “The key characteristic which sets aside this market is the high rate of repeat purchases by consumers and the fact that the market is already accustomed to a subscription-based model. Our endeavour has been to tap this well-ingrained customer behaviour through our unique business model. It is a matter of great pride for us that besides achieving operational profitability, our work is also being noticed by the top investors and accelerators in the world. Such faith and confidence gives us greater impetus to push the limits of efficiency in this high-growth segment to add greater value to the lives of our customers.”
“Our full-stack approach in terms of sourcing, distribution and last-mile delivery has enabled us to deliver delightful consumer experiences while making positive contribution margins on each delivery. This has had a significant impact on the trust that investors such as VCats have placed in us. To be chosen by Y Combinator for its winter programme has been another major milestone in our growth path and we are indeed grateful for all the insights and learnings we have gathered through this opportunity," added Puneet Kumar, Co-founder, Supr Daily.
Other Indian start-ups which have booked themselves a spot in Y Combinator's coveted programme are ClearTax, RazorPay, Justride and Innov8 (another VCats’ portfolio venture).
The subscription app delivers daily consumable goods such as milk, bread and eggs to users. India’s leading and fastest-growing seed investment and innovation platform, Venture Catalysts, has enabled an undisclosed seed investment into the Mumbai-based start-up in December 2016.
Founded in 2015 by Puneet Kumar (alumnus, IIT-Bombay) and Shreyas Nagdawane (alumnus, IIT-Bombay and IIM-Bangalore), Supr Daily follows a direct-to-consumer model adopted from the daily milk use-case in India to make deliveries, which has allowed it to bring down the delivery cost per order to as low as INR 1-3 as compared to the e-commerce benchmark of INR 50. Its novel business model has enabled Supr Daily to already achieve operational profitability, and was instrumental in helping it secure a previous seed investment from Snapdeal founders Kunal Bahl and Rohit Bansal, two of the leading names in the Indian entrepreneurial and angel investment landscape.
Speaking on the achievement Venture Catalysts Co-Founder Dr. Apoorv Ranjan Sharma, said, “It’s really great to see two highly-promising companies from the Venture Catalysts’ portfolio being selected in the Y Combinator programme. What the team at Supr Daily is doing in the daily needs market is extremely unique. By building an exceptional delivery infrastructure from scratch, they have already taken the last-mile delivery cost down by more than 90%. We are extremely excited to see their further growth post the three-month mentorship program in Silicon Valley. We are delighted to have innovative ventures such as Supr Daily and Innov8 in our portfolio of investee companies, and will be paying close attention to their future growth and scale.”
\
Supr Daily’s doorstep delivery and convenient management of subscription has driven great consumer traction, allowing it to serve close to half a million orders till date. Currently active in many parts of Mumbai, the platform will be using the funds raised through this round to scale up its pan-Mumbai operations in the next 6 months.
Shreyas Nagdawane, Co-founder, Supr Daily, said, “The key characteristic which sets aside this market is the high rate of repeat purchases by consumers and the fact that the market is already accustomed to a subscription-based model. Our endeavour has been to tap this well-ingrained customer behaviour through our unique business model. It is a matter of great pride for us that besides achieving operational profitability, our work is also being noticed by the top investors and accelerators in the world. Such faith and confidence gives us greater impetus to push the limits of efficiency in this high-growth segment to add greater value to the lives of our customers.”
“Our full-stack approach in terms of sourcing, distribution and last-mile delivery has enabled us to deliver delightful consumer experiences while making positive contribution margins on each delivery. This has had a significant impact on the trust that investors such as VCats have placed in us. To be chosen by Y Combinator for its winter programme has been another major milestone in our growth path and we are indeed grateful for all the insights and learnings we have gathered through this opportunity," added Puneet Kumar, Co-founder, Supr Daily.
Other Indian start-ups which have booked themselves a spot in Y Combinator's coveted programme are ClearTax, RazorPay, Justride and Innov8 (another VCats’ portfolio venture).
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