Milkbasket a Gurgaon based micro delivery startup has raised $500k in its Pre Series A round funding led by a EVC Ventures, Vikas Banga and Manav Kamboj of Snapdeal, CEO of YeahMobi, Peter Zou, Partner Beam Capital VC and Zhu Dao Investments.
MilkBasket was founded in 2015 by Anant Goel, Yatish Talvadia and Anurag Jain. With serving 15 clusters in Gurgaon, each cluster has a user base of around 500. Under 9 months of operations it has been able to achieve positive unit economics. Within 9 months of its operations company claims to figure out positive unit economics.
At present MilkBasket is not planning to expand their services in other cities but instead planning to focus on Gurgaon and in the next 6 months their aim is to grow with 80% workforce in logistics in 250 organisations and to serve over 15k orders per day across 100+ clusters.
Anant Goel Co-founder and CEO said
“We will use this fund to expand the core team, further enhance our technology and beef up the logistics. We are aiming for a 10x growth in customers in a span of next 4-5 months and increase per customer spend by 2.5 to 3 times during this time.”
Anjli Jain managing partner at EVC Venture said
“Milkbasket represents the second generation of Indian e-commerce startups strongly educated by the mistakes of it’s large predecessors and relatives. The company has moved from covering one cluster to 15 with negligible marketing budget and got profitable from early stages. We are always in a look for committed founders who ride the wave of exuberance but keep a keen eye on the traditional postulates of unit economics.”