Moneycontrol
Last Updated : Sep 20, 2018 10:22 PM IST | Source: Moneycontrol.com

Matrix Partners invests in DailyNinja

The funds will be used to further strengthen DailyNinja’s presence in the daily essentials space, by expanding to new cities

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Venture Capital firm Matrix Partners India announced on September 20 that it has invested an undisclosed amount in DailyNinja, a milk and grocery delivery startup.

Existing investors such as Sequoia India and Saama Capital also participated in the round.

The funds will be used to further strengthen DailyNinja’s presence in the daily essentials space, by expanding to new cities.

The company is currently present across  Bangalore, Hyderabad and Chennai and claims to be doing  around 30,000 orders on a daily basis.

“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,” said Gourav Bhattacharya, Director, Matrix India.

Founded in 2015 by Sagar Yarnalkar and Anurag Gupta, the company delivers staples such as milk, bread, eggs, vegetables, curd, and other grocery items through its subscription model.  The company partners with milkmen, milk brands and B2B grocery distributors.

The startup last raised around $3 million in funding from Saama Capital in June. It initially secured around $1.5 million in 2017 from Sequoia Capital

DailyNinja competes with Milkbasket, a grocery and milk delivery platform, which last raised $7 million in Series A round of funding led by Kalaari Capital in May.
First Published on Sep 20, 2018 10:22 pm
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