BigBasket in early talks to invest in DailyNinja, Milkbasket: Mint report

The companies haven’t finalised terms of the deals yet.
BigBasket in early talks to invest in DailyNinja, Milkbasket: Mint report
BigBasket in early talks to invest in DailyNinja, Milkbasket: Mint report
Written by :

India’s largest grocery start-up BigBasket, is reportedly in early talks to make an investment in two smaller grocery delivery start-ups DailyNinja and Milkbasket, as per a report by Anirban Sen in Livemint.

This has been revealed by three people who were aware of the discussions.

BigBasket, which had raised $300 million from Alibaba Group Holding Ltd earlier this year, may make a minority or majority investment in one of the two start-ups, the people said.

The terms of the deals haven’t been finalized as yet.

With a fresh infusion of funds, BigBasket is looking at a number of new initiatives, including the launch of a new subscription service. It is looking to compete with Amazon India and Flipkart, which are trying to quickly expand their grocery businesses, the report says.

BigBasket is also trying to fortify its capabilities in the micro-delivery space, which refers to the delivery of a relatively small number of daily essentials such as fresh fruits, vegetables and dairy products, within a few hours of an order being placed.

Till now, BigBasket has mostly catered to customers who typically order large quantities of groceries, FMCG (fast-moving consumer goods) products and household items on a weekly basis. While this has worked well for BigBasket and ensured that it gets a high ticket size per order, it also wants to enhance its volume of orders on a daily basis and capture a larger share of the grocery delivery business, the report adds.

The people mentioned above told Livemint that the talks with DailyNinja and Milkbasket were sparked by BigBasket’s desire to simultaneously speed up its capabilities in the micro-delivery space, as well as hasten its plans of launching a subscription service, which DailyNinja already offers to consumers.

Meanwhile, Milkbasket refused to confirm the development, the report says. 

“We do not comment on any conversations regarding our ongoing fund raise,” said Anant Goel, CEO and co-founder of MilkBasket in an email.

A spokesperson for DailyNinja too denied that it was in talks with BigBasket.

The Bengaluru-based start-up BigBasket, is the current market leader in the online grocery segment after its recent fund-raising.  

Elections 2023

No stories found.
The News Minute