Daalchini raises $4 Million in Series-A by Unicorn India Ventures

Retail-Tech startup Daalchini has raised $4 million in a Series A round led by Unicorn India Ventures.

The round also saw participation from prominent and existing investors like Artha Venture Fund, Ajay Kaul – former CEO of Dominos India, and VSS Investco – the investment vertical of Vijay Shekhar Sharma – CEO of Paytm.

So far, this is the largest round raised by a company in the smart vending segment.

“The RetailTech segment of India is going through a massive transition from its traditional physical store form to a digital one, the speed of which has been intensified by the pandemic. In this phase, Daalchini represents the best of both worlds with a ubiquitous physical presence backed by a strong technological framework that prioritizes its customers’ needs and convenience,” shared Ruchi Pincha, Investment Associate, Unicorn India Ventures.

A large part of this funding will be deployed to expand their industry footprint and further their tech capabilities. The Company wants to make its solutions asset-efficient and accessible to c10 million retail points in India and 450+ F&B D2C brands.

Founded in 2017 by ex-Paytm colleagues Prerna Kalra and Vidya Bhushan, Daalchini takes affordable snacks and home-style meals to its customers through technology-efficient models like automated kiosks, mobility retails, and smart vending machines.

Currently, the Daalchini app has more than 2 lakh monthly active users.

Daalchini has grown 300% in the last 12 months, making it one of India’s fastest-growing RetailTech startups. The Company has achieved a Product Market Fit (PMF), with ₹12 crores of revenue in FY2022. More than 90% of their vending machines are EBITA positive within 45 days.

Daalchini aims to clock ₹50 crores in revenues with a GMV of ₹130 crores in 12 months. The Company intends to grow from 850+ to over 5,000 smart and autonomous retail points in the next 12-18 months. The new funding will enable Daalchini to continue executing its growth strategy and strengthen its position as the largest network of smart retail stores.

Setting new milestones in the intelligent retail field, the Company provides a plethora of food and beverage options, available 24*7 and accessible without delivery charges or long wait times.

“Daalchini aims to establish its footprints at every 200 meters of habitable area with its autonomous smart stores and vending machines. Today, our country has just a few thousand vending machines, while the US or Japan has more than one autonomous store for every 200 people. We are far from the true potential of this kind of retail,” added Prerna Kalra, Co-founder & CEO of Daalchini Technologies.