Hyperlocal delivery startup Milkbasket raised $5.5 mn led by Inflection Point Venture and participation from existing investors Blume Ventures, Kalaari Capital, Mayfield India, Unilever Ventures & BeeNext.
Anant Goel, cofounder and CEO, Milkbasket, said that this was the last fundraise for the company on its path to profitability in 2020. “Our Gurugram, Noida and Bengaluru operations are already breaking even with other cities on an accelerated track. These funds will provide a further boost in our efforts to achieve the same and necessary buffers to deal with any eventualities,” Goel added.
It serves over 130K households and offers over 9,000 products across fruits & vegetables, dairy, bakery and all other FMCG categories, currently operating in Gurugram, Noida, Dwarka, Ghaziabad, Hyderabad & Bengaluru.