SUMMARY
BigBasket has infused INR 2.67 Cr in DailyNinja
BigBasket announced the acquisition of DailyNinja last month
DailyNinja competes against Milkbaset and Country Delight in the milk delivery space
After acquiring DailyNinja last month, online grocery delivery major BigBasket has infused INR 2.67 Cr in the online milk delivery startup.
According to the ministry of corporate affairs (MCA) filings accessed by Inc42, DailyNinja issued 7,695 equity shares to Supermarket Grocery Supplies Private Limited, the registered entity of BigBasket. The price per share for the deal stood at INR 3,454 with a nominal value of INR 10.
On March 24, BigBasket announced the acquisition of DailyNinja. Experts have suggested that the acquisition is going to help BigBasket take a leap in the subscription delivery space. With the acquisition, BigBasket is now able to facilitate the growth of its BBdaily milk and daily needs subscription business.
BigBasket believes that the acquisition will help BBdaily network to grow by 150% to 200% over a period of 12 months as it will also get access to DailyNinja’s fleet of 2K delivery partners.
Prior to the acquisition, DailyNinja had last raised an undisclosed amount from Mumbai-based venture capital firm Matrix Partners India in September 2018. The company had raised $3 Mn from Saama Capital and Sequoia Capital. Kunal Shah and Sandeep Tandon of Freecharge, Aprameya Radhakrishna of TaxiForSure and Anupam Mittal are some of the investors of DailyNinja.
Founded by Sagar Yarnalkar and Anurag Gupta in 2015, DailyNinja is a subscription-based platform that provides essential products in partnership with milkmen, milk brands and B2B grocery distributors.
To consolidate its position in the milk delivery space, DailyNinja also acquired two Hyderabad-based startups WakeUpBasket and 4amShop. These acquisitions helped DailyNinja to expand its network and customer base. Currently, DailyNinja serves over 110K customers daily.
In the niche milk delivery segment, DailyNinja competes against the likes of MilkBasket, Country Delight, NutriMoo, SuprDaily among others. After tasting success in milk delivery, these startups are also foraying into other segments.
For instance, Gurugram-based Milkbasket now also delivers fresh meat. Meanwhile, some reports have speculated that the startup was also eying an entry in the medicine delivery space with a $50 Mn funding round which is yet to come. BigBasket reportedly is also looking to acquire Milkbasket.
As far as Country Delight is concerned, the Gurugram-based milk delivery startup had raised INR 70 Cr ($ 9.8 Mn) in an equity financing round led by Matrix Partners in February last year. On the other hand, SuprDaily was acquired by food delivery major Swiggy in July last year.
