The micro delivery startup, Doodhwala, has raised $2.2 million in a round of Seed funding from VC firm Omnivore Partners.
The company plans to use the funds towards expanding its services into new markets, to fund talent acquisition and upgrade its technology. Reihem Roy, Principal at Omnivore will be joining the board of Doodhwala, as per the terms of the deal.
Doodhwala, founded in 2015 by Aakash Agarwal and Ebrahim Akbari, is a subscription-based hyperlocal delivery startup which offers users a wide selection of grocery items, including fresh dairy milk, meat, vegetables, fruits and shelf stable products.
The company claims that by lowering its delivery cost to Rs 3, it is in a better position than its competitors. It is also maintaining a steady month-on-month growth rate and a customer retention rate of 85 per cent.
The startup is currently operational in Bengaluru and Pune and claims to fulfill over 400K deliveries in a month.