Milkbasket is an India-based micro-delivery startup. The startup is currently in talks to close a new financing round. The startup has attracted many companies attention, including Amazon India. There are now advanced talks about Milkbasket to raise $50 million, up from $26 million it has secured to date.
It aims to expand its footprint in milk, groceries, foods, and vegetable delivery market.
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Milkbasket
The startup launched in 2015. It currently operates in Banglore, Gurugram, Noida, and Ghaziabad and Hyderabad. The startup allows users to order their daily supplies until midnight and delivers it in the early morning hours.
Besides, the startup has also started a subscription service for users who need the same set of items delivered to them every day.
Within the recent interview with Economic Times, the startup’s executives say that they focus on recurring supplies that need to reach people’s doorsteps at certain hours. Moreover, the startup aims to mimic how a traditional milkman and paperboy operate to lower delivery costs.
In its early year, the startup focused on just delivering milk. Then, it is increasingly new categories to enter. Later, the startup might begin delivering prescribed medicine in some cities. Now, the milk delivery service is a small portion of the startup’s business.
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Milkbasket’s rivals
MIlkbasket now competes with BigBasket and Grofers. Both of them are heavily backed and locked in a fierce battle to gain market share.
There are more startups enter the micro-delivery territory in India. Just yesterday, Tencent-backed Swiggy launched a new service called Swiggy Go. The service enables the startup to deliver anything to people in Banglore.
Besides, Google-backed Dunzo is also gaining more popularity. Besides, the startup is also expanding to more cities across India. FreshToHome, a startup that delivers meat and vegetables, has also started to over milk delivery services.
