The Big Daily Grocer
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Built on the unique Indian habit of getting fresh milk delivered at home every morning, Milkbasket fulfills the entire grocery needs of a household every day before 7:00 a.m. Milkbasket, the new age tech platform to enable frequent and frictionless buying, has innovated milk run model, one-click buying, no checkout and contactless delivery - all a first in the e-commerce industry. It reaches over 63,000 households daily.
The firm’s vision is to become the default mom & pop shop for over a million households in the next 3-5 years. Having achieved positive unit economics within the first six months of the launch, Milkbasket is the most capital efficient model in the online grocery space as compared to its domestic and global peers.
Founded by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, Milkbasket delivers only in select areas while expanding its network with new launches every week. With an order fulfilment rate of 99 percent, customer retention rate of 95 percent and on-time deliveries of 99.9 percent, Milkbasket has redefined the industry benchmarks and enjoys an envious customer loyalty. Milkbasket has raised $10 million in funding from Kalaari Capital, BeeNext, Unilever Ventures, Blume Ventures and Lenovo Capital.
Previously it raised $1 million in seed and angel investment from a clutch of Chinese VCs and domestic angels, including Milkbasket customers. Recenty it also announced a voice buying service on its platform.
“Milkbasket is synonymous with grocery and convenience for our customers, and the introduction of voice buying further elevates their experience, says Anant Goel, Co-founder & CEO of Milkbasket.