India’s grocery micro-delivery company receives US$2.2 million seed investment

INDIA – Doodhwala, a micro delivery service for fresh groceries, said it has received a seed investment of $2.2 million by Omnivore, a venture capitalist firm, for a minority stake in the company.

The new financing will go towards expanding Doodhwala’s service into new markets, funding talent acquisition and upgrading technology, the company said in a release.

It also said Reihem Roy, Principal, Omnivore will join the board.

The “hyperlocal delivery platform”, Doodhwala, is a subscription-based, early-morning delivery platform for all farm fresh groceries sourced directly from local farms and dairies.

The company said it offers users a wide selection of ad hoc everything from fresh dairy milk, meat, vegetables, fruits to shelf stable items delivered to their door before 7 am every day.

“Our unit economics are exceptionally strong. By lowering our delivery cost to Rs 3, Doodhwala is uniquely positioned in a market where other players are struggling.

We have done a great job of maintaining a steady month-on-month growth rate while scoring an 85 per cent plus customer retention,” Doodhwala Co-Founder Ebrahim Akbari said.

Currently operating in Bengaluru and Pune, Doodhwala has over 4 lakh month deliveries. The new funding comes less than a year after the company raised an undisclosed amount in another Pre Series A funding from Thomas Varkey, a partner at Stonehill Capital, USA.

ET Retail

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.