INDIA – Daily milk and grocery delivery startup has acquired WakeupBasket in a cash and equity deal to help its expansion outside Bengaluru, targeting 20,000 daily orders in the next six months, reports Inc42.
The Hyderabad based WakeupBasket was founded 2015 by Satendra Pratap along with Sai Varaprasad and it claims 2,500 daily orders in the city.
The firm provides early morning delivery of household essentials with milk and groceries being the major products sold.
The transaction will see the entire customer base of WakeupBasket as well as all of its employees, including transfer to DailyNinja.
This is DailyNinja’s second acquisition this year after buying 4amShop in an all-cash deal in August, giving it 2,000 customers from across Hyderabad.
After Hyderabad hyperlocal subscription delivery startup plans to expand into Gurugram and expects to increase the number of deliveries to 150K in the next one year.
Founded in 2015 by Sagar Yarnalkar and Anurag Gupta, DailyNinja provides early morning delivery everyday essentials and delivers Milk and Groceries to 30K households every day across Bengaluru and Hyderabad.
The acquisitions come amidst a series of funding rising to US$4.5 million to date from investors such as Kunal Shah and Sandeep Tandon of Freecharge, Aprameya Radhakrishna of TaxiForSure, Anupam Mittal of Shaadi.com and others.
The latest funding of US$3 million from Saama Capital and existing investor Sequoia Capital aims to expand its business by acquiring more customers across Bengaluru, Hyderabad, and Gurugram.
DailyNinja on the other hand secured an undisclosed amount of funding from the venture capital firm, Matrix Partners India and existing partners.
BigBasket announced it is looking to introduce a subscription programme for every day, essential items like milk, bread.
According to a report by RedSeer Consulting, the Indian online grocery market stood at US$1Bn in 2017 and is expected to be one of the fastest growing segments in India.