About Milkbasket
Milkbasket is a company based in Gurugram (India) founded in 2015 was acquired by Reliance Industries in August 2021. It operates as a Subscription Services, and Direct-to-Consumer (D2C). Milkbasket has raised $35.07 million across 10 funding rounds from investors including Navi, Reliance Industries and InnoVen Capital. Milkbasket has completed 1 acquisition, including Veggie India. Milkbasket offers products and services including Milk Delivery and Grocery Essentials. Milkbasket operates in a competitive market with competitors including Daily Ninja, FTH Daily, AM Needs, InsanelyGood and DailyMoo, among others.
- Headquarter Gurugram, India
- Stage Minicorn
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Reliance Retail Limited
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$35.07 M (USD)
in 10 rounds
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Latest Funding Round
$5.58 M (USD), Series B
Mar 11, 2020
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Investors
Navi
& 40 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Acquired by
Reliance Industries
(Aug 23, 2021)
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Products & Services of Milkbasket
Milkbasket offers a comprehensive portfolio of products and services, including Milk Delivery and Grocery Essentials. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Fresh milk is delivered daily before 7 am.
Daily essentials are provided with early morning delivery.
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Product Management Team
7 people
Software Development Team
7 people
Human Resources and Administration
6 people
Creative and Marketing Team
5 people
Data Analysis and Operations Team
5 people
Leadership Team
5 people
Sales and Marketing
4 people
Senior Team
4 people
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Funding Insights of Milkbasket
Milkbasket has successfully raised a total of $35.07M across 10 strategic funding rounds. The most recent funding activity was a Series B round of $5.58 million completed in March 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 10
- Last Round Series B — $5.6M
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First Round
First Round
(26 Apr 2016)
- Investors Count 40
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2020 | Amount | Series B - Milkbasket | Valuation | Kalaari Capital , Mayfield | |
| Jun, 2019 | Amount | Debt – Venture - Milkbasket | Valuation |
investors |
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| May, 2019 | Amount | Series B - Milkbasket | Valuation | Unilever Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Milkbasket
Milkbasket has secured backing from 41 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Navi, Reliance Industries and InnoVen Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments in early-stage technology companies are made by Kalaari Capital.
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Founded Year | Domain | Location | |
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Mayfield is focused on AI innovation and venture capital investments.
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Founded Year | Domain | Location | |
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Corporate-backed venture capital firm focused on consumer tech and multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Milkbasket
Milkbasket has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Veggie India. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Grocery products are retailed online across Delhi NCR regions.
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2018 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Milkbasket
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Milkbasket Comparisons
Competitors of Milkbasket
Milkbasket operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Daily Ninja, FTH Daily, AM Needs, InsanelyGood and DailyMoo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Daily essentials are delivered through hyper-local subscriptions.
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| domain | founded_year | HQ Location |
Delivers fresh milk, dairy, fruits, veggies, staples via subscription to homes daily.
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| domain | founded_year | HQ Location |
Subscription-based delivery of grocery products is provided.
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| domain | founded_year | HQ Location |
Online platform offering high-quality groceries
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| domain | founded_year | HQ Location |
Offers a platform for subscription-based dairy products delivery.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Milkbasket
Frequently Asked Questions about Milkbasket
When was Milkbasket founded?
Milkbasket was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Milkbasket located?
Milkbasket is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Who is the current CEO of Milkbasket?
Pms Prasad is the current CEO of Milkbasket.
Is Milkbasket a funded company?
Milkbasket is a funded company, having raised a total of $35.07M across 10 funding rounds to date. The company's 1st funding round was a Series B of $10.5M, raised on Apr 26, 2016.
What does Milkbasket do?
Milkbasket is managed as Indias first and largest daily micro-delivery service, focusing on delivering milk, fresh fruits, vegetables, dairy products, and over 5000 daily essentials to households before 7 am. The platform, operated by Reliance Retail Limited, serves over a million families across more than 20 cities in India. Innovative features like flexi ordering and contactless delivery are provided to enhance customer convenience in the e-commerce grocery sector.
Who are the top competitors of Milkbasket?
Milkbasket's top competitors include Daily Ninja, FTH Daily and DailyMoo.
What products or services does Milkbasket offer?
Milkbasket offers Milk Delivery and Grocery Essentials.
How many acquisitions has Milkbasket made?
Milkbasket has made 1 acquisition, including Veggie India.
Who are Milkbasket's investors?
Milkbasket has 41 investors. Key investors include Navi, Reliance Industries, InnoVen Capital, Draphant, and Aarvee Associates.
What is Milkbasket's valuation?
The valuation of Milkbasket is $32.69M as of Mar 2020.
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