Bengaluru-based DailyNinja Raises $3M from Saama and Sequoia Capital
The company intends to use the capital to expand their business by acquiring more customers across Bengaluru, Hyderabad and Gurgaon. The funds will also be used upgrade customer experience by adding more offerings for their customers.
Hyperlocal subscription-based delivery startup, Daily Ninja has raised $3 million from Saama Capital and existing investor Sequoia Capital. The company provides early morning delivery everyday essentials and is becoming a household name across Bengaluru and Hyderabad. The company delivers Milk and Groceries to 25000 households everyday across the 2 cities and expects to increase it to 150,000 in 12 months.
This is the second VC round that Dailyninja has raised after a $1.5 million round that was raised recently in October 2017 from Sequoia Capital. With a total $4.5 million in funds, the company intends to use the capital to expand their business by acquiring more customers across Bengaluru, Hyderabad and Gurgaon. The funds will also be used upgrade customer experience by adding more offerings for their customers.
Commenting on the development, SagarYarnalkar, CEO and Co-founder of Daily Ninja, said, "With this fundraise we plan to expand in new cities and capture a bigger customer base in our home city of Bengaluru. We are delighted to have two very successful and respected investors in Sequoia and Saama capital partner with us."
Anurag Gupta, Co-Founder of Dailyninja added, “This round will help us achieve our objective of reaching to 100k deliveries a day over the next 12 months.Our focus will continue to be on scale while ensuring better experience for our customers, we plan to bring Dailyninja to Hyderabad and Gurgaon soon.”
Yarnalkar founded Dailyninja along with co founder Mr. Anurag Gupta in September 2015. The company has previously also raised funds from well known angel investors Kunal Shah and Sandeep Tandon of Freecharge, Aprameya Radhakrishna of TaxiForSure, Anupam Mittal of Shaaid.com and others.
Daily Ninja which allows users to subscribe for daily needs such as milk, bread, eggs, curd, dosa batter, paneer and other groceries, competes with the likes of Doodhwala, Milkbasket, Town Essentials, Supr Daily and RainCan, in the micro delivery segment. According to industry estimates, Milkbasket handles about 8,000 daily orders, SuprDaily about 5,000, and Doodhwala said it averages 15,000 daily orders. Also, according to media reports, food-delivery company Swiggy and Indian online grocer major BigBasket approached Mumbai-based SuprDaily and Pune-based Rain Can, respectively, for possible acquisitions. In April, Noida-based micro delivery platform MrNeeds has shut down its operations, reported Entrackr.
Using DailyNinja mobile app, customers can place orders for milk, fresh products and groceries until late at night and these will be delivered at their doorstep the next morning.
DailyNinja currently works with 385 milk vendors to make the deliveries between 4 am and 7 am.
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