Merger & Acquisition

Milkbasket Acquires Bengaluru-based PSR Supply Chain

Milkbasket Acquires Bengaluru-based PSR Supply Chain
Milkbasket Co-founders

Online grocery delivery startup Milkbasket has acquired Bengaluru-based PSR Supply chain for an undisclosed amount.

Set up in 2015 by Nagarjuna Reddy Chagamreddy and Sai Abhishek Velukuru, PSR Supply Chain is a local e-grocery store, and Milkbasket has integrated the startup’s customers and offering into its portfolio, Milkbasket said in a statement.

PSR Supply Chain has ceased operations as of June. In four years of operations, the company established a network of over 4,000 registered customers and its last reported annual turnover was over Rs 2.5 crore.

“The acquisition of PSR Supply Chain helps us in further strengthening our customer base and offerings in Bangalore. While we are growing phenomenally on our own, we are always on the lookout for strategic acquisitions to help us shorten our learnings in specific regions or technologies,” Milkbasket co-founder and CEO Anant Goel said.

The acquisition came within about a month after Milkbasket had raised $10.5 million in a funding led by Unilever Ventures, with participation from Mayfield India, Kalaari Capital, and Blume Ventures and few Indian family offices

Having launched its operations in early 2015, Milkbasket now has a network of over 4,000 registered customers and its last reported annual turnover was over ₹2.5 crore.

Earlier in March this year, Milkbasket had acquired Veggie India, a Noida-based e-commerce firm selling Organic fruits and vegetables.

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Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

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