Daalchini raised $4 Mn in its Series A round from Unicorn India Ventures, Artha Venture Fund, Investco’s Ajay Kaul and Paytm’s Vijay Shekhar Sharma
It offers automated kiosks for mobility (order cab), food delivery and packaged food (vending machines)
The startup plans to expand its operations to 5K+ retail points and clock INR 50 Cr in revenues
Delhi NCR-based Dukaan tech startup Daalchini has raised $4 Mn in its Series A round from Unicorn India Ventures. Existing investors Artha Venture Fund, Investco’s Ajay Kaul and Paytm’s Vijay Shekhar Sharma also participated in the round.
According to the startup, this is the largest round raised by a company in the smart vending segment.
The startup plans to use the funds to expand its industry footprint and tech capabilities, making the vending machines available to over 10 Mn retail points in India and offering products from 450+ F&B D2C brands.
The startup was launched in 2017 by former Paytm executives Prerna Kalra and Vidya Bhushan. Daalchini offers automated kiosks for mobility (order cab), food delivery and packaged food (vending machines).
The startup sets its automated machines in educational institutions, corporate offices, hospitals and railway stations. From the different kiosks, users can either buy packaged foods, order online and receive the delivery at the kiosk, or even book cabs. The Daalchini app has over 2 lakh monthly active users and has partnered with nearly 160 F&B brands such as The Whole Truth Foods, Open Secret, Cremica Opera, Dabur, Nestle, Mars and more.
It claims to have grown 300% in the last 12 months and had a revenue of INR 12 Cr in FY22. Daalchini further claims that 90% of its vending machines are EBITDA positive within 45 days of operation.
With the funds raised, the startup plans to expand its operations to 5K+ retail points in the next 12-18 months from the present 850+. It aims to clock INR 50 Cr in revenues and INR 130 Cr in gross merchandise value (GMV).
The retail commerce segment in India is undergoing quite a digital transformation, yet Daalchini’s business model of vending machines is underpenetrated with only a few 100 kiosks available in India.
The phygital solution is still a luxury and can only be found in large companies within metro cities. In fact, some of Daalchini’s corporate customers include Reliance, Genpact, NITI Aayog, Paytm, BYJU’s, OYO and more. Other startups in the space include Wendor, Instago, ITC’s Delectable and more.