Online Grocery Startup Milkbasket Raise $7 Mn Series A Round

Day-to-day grocery delivery startup Milkbasket has raised $7 million in a Series A funding led by Kalaari Capital with participation from its existing investors, BeeNext, a Japanese fund, Unilever Ventures and Blume Ventures.

Commenting on the investment, Vani Kola, MD, Kalaari Capital said, "Strong founding team, focus towards data-based decision making, operational rigour, and incessant focus on customer delight, backed by a large market opportunity in the grocery space culminated into us leading a $7M Series A round into Milkbasket."

Founder and CEO Anant Goel added that the company is going to use the funds for further innovations in supply chain efficiencies and last mile logistics, hiring additional talent and expand into additional territories.

Teruhide Sato, founder of BeeNext, said, "Our investment in Milkbasket provides us with meaningful participation in one of the fastest growing e-grocery markets globally."

In previous raises, the company had raised $3 million in a pre-series A funding from Unilever Ventures and others in January 2018.