Micro-delivery company, Milkbasket has announced that it has raised INR 20 crore from BAC acquisitions, an investment arm of Flipkart co-owner, Sachin Bansal.
Milkbasket is run by Aaidea Solutions Pvt. Ltd will utilize the money to conduct research, development and lastly, meet capital expenses, Milkbasket informed in its statement.
"Milkbasket is now working on the next set of innovations to further consolidate its market leader position across its fresh fruit and vegetable offering, automating the daily delivery supply chain and reducing the go-to-market time for multi-city expansion," Anant Goel, co-founder and CEO of Milkbasket, said to the Indian daily news, VC Circle.
The Gurugram-based startup, Milkbasket was initiated by Anant Goel, Anurag Jain, Yatish Talvadia, and Ashish Goel. The startup company meets the grocery needs of the households and in turn, delivers food before 7 am every morning, the company statement tells.
Contrasting to big players such as Flipkart and Amazon, Milkbasket puts itself as a small platform that meets grocery needs of all. The company is currently operating in Noida, Ghaziabad, Bengaluru and Gurugram and further plans to become a renowned online shop for more than million of households by 2021.