Daily grocery delivery company Milkbasket has acquired Veggie India, a grocery delivery startup based in Noida, for an undisclosed amount. As per the deal, Veggie India will cease operations by April 2019, and merge 100% into Milkbasket. All Veggie India employees, including the founders, Jainendra Upadhyay and Shailendra Upadhyay will join Milkbasket. Veggie India, operated by Ocado Garden Fresh Pvt Ltd, is an online grocery delivery platform, founded last year. The company has already become a known name in Noida and Ghaziabad for their on-demand delivery.
“We are thrilled to add Veggie India to our portfolio. The acquisition is in line with our growth plans for 2019 and adds further strength and distribution capabilities to the existing business,” Anant Goel, Co-founder and CEO of Milkbasket said.
Milkbasket has operations and presence in Delhi, Gurgaon, Noida and Bengaluru and with this acquisition, the company will grow its customer base to over 100,000 households pan India. This transaction marks a continuation of the company's current strategy of expansion within established and new territories with an objective to serve over a million households by 2020.
“Jainendra and Shailendra have done a remarkable job with Veggie India, and within a year of operations, the company has acquired substantial business in their region, with loyal customers. I am certain that their experience will be beneficial to the company, as Milkbasket embarks on an even aggressive growth path,” Anant added.
Launched in early 2015 by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, Milkbasket is calls itself India’s first and largest daily grocery delivery service. Built on the unique Indian habit of getting fresh milk delivered at home every morning, Milkbasket is today fulfilling the entire grocery needs of a household every day before 7:00 a.m.
The company has built a new age technology platform to enable frequent and frictionless buying with unique features like one-click buying, no checkout and contactless delivery - all a first in the e-commerce industry - and favourites of Milkbasket customers.
Milkbasket has raised close to $16 million from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures.
The startup’s vision is to become the default mom&pop shop for over a million households by 2021.