The startup has a lean delivery model with efficient & cost-effective supply chain
Popular contactless milk and grocery delivery startup Milkbasket has reportedly raised $5.5 million and is poised to turn profitable in 2020 itself.
The fresh round of investments came in from, primarily from Inflection Point Ventures, while existing investors Blume Ventures, Kalaari Capital, Mayfield India, Unilever Ventures and BeeNext had also participated.
According to Anant Goel, Co-Founder and CEO, Milkbasket, this is the last fundraise and the company will achieve profitability in 2020 itself. The company’s operations in Gurgaon, Noida and Bangalore operations are already breaking even, while those in other cities will follow suit soon enough, he added. The fresh boost of funding will be crucial to Milkbasket’s pan India expansion endeavors and safeguard against any eventualities.
Launched in 2015 by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, today Milkbasket serves over 130,000 households, and is currently operating in Gurgaon, Noida, Dwarka, Ghaziabad, Hyderabad and Bangalore.