Bangalore-based milk and grocery delivery startup DailyNinja has secured an undisclosed amount of funding from Matrix Partners India, with participation from existing investors Sequoia India and Saama Capital.
The funding came within four months after the e-grocery startup had raised $3 million in a funding round led by venture capital firm Saama Capital, along with participation of existing investor Sequoia Capital, in June this year.
DailyNinja will use the fresh capital raised to further strengthen its presence in the daily essentials space and also in expanding to new cities beyond Bengaluru, Hyderabad and Chennai.
On the back of fresh funding, it would expand its operations to new markets like Mumbai and Gurgaon. “We clock about 35,000 deliveries per day and we are looking to accelerate it to about one lakh as we expand to new markets and deepen our reach in existing markets. We are the clear market leaders in this space and this investment is an outcome of the progress we have been making,” said Yarnalkar, co-founder, DailyNinja.
Matrix Partners India director Gourav Bhattacharya said, “Daily consumption of milk is an India-specific habit. DailyNinja has been able to leverage this habit to create a pipeline to customers’ homes, and has built an attractive business on top of this distribution channel. Their unique hybrid approach of using the existing milk delivery system as well as their own in-house delivery fleet has enabled them to outpace competition.”
Founded in 2015, by Anurag Gupta and Sagar Yarnalkar, Daily Ninja, has a mobile app that delivers daily needs on a subscription model.
The company has recently acquired HYderabad-based 4amShop, which delivers milk, bread, eggs, butter, juices and other daily need items at customers' doorstep, free of charge.
The funding came within four months after the e-grocery startup had raised $3 million in a funding round led by venture capital firm Saama Capital, along with participation of existing investor Sequoia Capital, in June this year.
DailyNinja will use the fresh capital raised to further strengthen its presence in the daily essentials space and also in expanding to new cities beyond Bengaluru, Hyderabad and Chennai.
On the back of fresh funding, it would expand its operations to new markets like Mumbai and Gurgaon. “We clock about 35,000 deliveries per day and we are looking to accelerate it to about one lakh as we expand to new markets and deepen our reach in existing markets. We are the clear market leaders in this space and this investment is an outcome of the progress we have been making,” said Yarnalkar, co-founder, DailyNinja.
Matrix Partners India director Gourav Bhattacharya said, “Daily consumption of milk is an India-specific habit. DailyNinja has been able to leverage this habit to create a pipeline to customers’ homes, and has built an attractive business on top of this distribution channel. Their unique hybrid approach of using the existing milk delivery system as well as their own in-house delivery fleet has enabled them to outpace competition.”
Founded in 2015, by Anurag Gupta and Sagar Yarnalkar, Daily Ninja, has a mobile app that delivers daily needs on a subscription model.
The company has recently acquired HYderabad-based 4amShop, which delivers milk, bread, eggs, butter, juices and other daily need items at customers' doorstep, free of charge.
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