Senior Correspondent, IndianRetailer.com & Retailer Magazine Jun 13, 2019 / 3 MIN READ
Milkbasket will invest Rs 10 crore for scaling up its fresh fruits and vegetable category. Grocery delivery startup is aiming to set up to 10 more fresh scouring centres across India.
The company said in a statement, “The company aims to set up to 10 more collection centres in villages to promote right farming practices for better quality yield, maintain the cold chain to mitigate the food wastage and preserve the nutritional value of produce.”
“Following the success of Bakhtawarpur centre in Delhi which receives fresh produce from over 20 villages around the city, Milkbasket has shortlisted villages in Bangalore, Hyderabad, Nasik, Haryana, Himachal Pradesh and Uttar Pradesh for the next wave,” it added.
Anant Goel, Co-founder and CEO, Milkbasket, stated, “The company will continue to invest significantly to establish a robust processing and distribution network over the next year.”
At present, fresh fruits and vegetable category contributes more than 25% of Milkbasket’s sales. The company targets to grow this category by at least 1.5 times over the next 12 months.
The round brings Milkbasket's total Series A funding to $14 million.
The hyperlocal milk and grocery delivery startup is further planning to hire 2,500 people over the next two years.
The round has also seen participation from Mayfield India, Kalaari Capital, and Blume Ventures and few Indian family offices.
The latest funding is in addition to $10.5 million which the company had raised earlier this month.
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