Milkbasket acquires Veggie India
Veggie India to cease operations by April 2019, and merge 100% into Milkbasket
All employees of Veggie India, including the founders to join Milkbasket
New Delhi, March 26, 2019: Milkbasket, India’s largest and first daily grocery delivery company today announced the acquisition of Veggie India, a grocery delivery startup based in Noida, for an undisclosed amount. As per the deal, all Veggie India employees, including the founders, Jainendra Upadhyay and Shailendra Upadhyay will join Milkbasket.
Speaking on the announcement, Anant Goel, Co-founder and CEO of Milkbasket said, “We are thrilled to add Veggie India to our portfolio. The acquisition is in line with our growth plans for 2019 and adds further strength and distribution capabilities to the existing business.”
“Jainendra and Shailendra have done a remarkable job with Veggie India, and within a year of operations, the company has acquired substantial business in their region, with loyal customers. I am certain that their experience will be beneficial to the company, as Milkbasket embarks on an even aggressive growth path.”Anant added.
Milkbasket has established strong operations and presence in Delhi, Gurgaon, Noida and Bengaluru. With this acquisition, the company has grown its customer base over 100,000 households pan India. This transaction marks a continuation of the Company’s current strategy of expansion within established and new territories with an objective to serve over a million households by 2020.
Veggie India, operated by Ocado Garden Fresh Pvt Ltd, is an online grocery delivery platform, founded in last year. The company has already become a known name in Noida and Ghaziabad for their on demand delivery.
Launched in early 2015, Milkbasket is India’s first and largest daily grocery delivery service. Built on the unique Indian habit of getting fresh milk delivered at home every morning, Milkbasket (accessible on milkbasket.com, iOS and Android) is today fulfilling the entire grocery needs of a household every day before 7:00 a.m. The company has built a new age technology platform to enable frequent and frictionless buying with unique features like one-click buying, no checkout and contactless delivery – all a first in the e-commerce industry – and favourites of Milkbasket customers.
Founded by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, Milkbasket’s vision is to become the default mom & pop shop for over a million households by 2021. 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.
Milkbasket has raised close to $16 million from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures.
