Daalchini Raises $4 Million In Series A Funding Round
The fund raised will be utilized to expand the industry footprint and further the tech capabilities
Daalchini, a retail tech startup, has raised $4 million in Series A funding round led by Unicorn India Ventures. The round also saw participation from Artha Venture Fund, Ajay Kaul (former CEO, Dominos India) and VSS Investico, the investment vertical of Vijay Shekhar Sharma. The fund raised will be utilized to expand the industry footprint and further the tech capabilities.
"Daalchini aims to establish its footprints at every 200 meteres of habitable area with its autonomous smart stores and vending machines. Today, our country has just a few thousand vending machines, while the US or Japan has more than one autonomous store for every 200 people. We are far from the true potential of this kind of retail," said Prerna Kalra, co-founder and CEO, Daalchini Technologies.
Currently, the Daalchini app has more than two lakh monthly active users. Daalchini has grown 300 per cent in the last 12 months. The company aims to clock INR 50 crore in revenues with a GMV of INR 130 crore in 12 months. It also intends to grow from 850 to more than 5000 smart and retail points in the next 12 to 18 months, claimed by the company in a statement.
"The retail tech segment in India is going through a massive transition from its traditional physical store form to a digital one. In this phase, Daalchini represents the best of both the worlds with a ubiquitous physical presence backed by a strong technological framework that prioritizes its customers' needs and convenience. At Unicorn India Ventures, we are always looking to support such companies that retain the unique essence of their sector and work on enhancing the overall customer experience with technological innovation," said Ruchi Pincha, investment associate, Unicorn India Ventures.
Founded in 2017 by Prerna Kalra and Vidya Bhushan, Daalchini takes affordable snacks and home-style meals to its customers through technology-efficient models like automated kiosks, mobility retails, and smart vending machines.