Gurgaon-based Aaidea solutions Pvt. Ltd, which runs micro-delivery grocery eCommerce startup Milkbasket, has raised $500,000 in pre-Series A round led by EVC Ventures and Chinese Investors including Peter Zou, CEO of YeahMobi, and Li Jian, founder of Zhu Dao Investments. Snapdeal vice presidents Vikas Banga and Manav Kamboj also invested as well.
Founded by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia in early 2015, Milkbasket is a micro-delivery service, fulfilling daily grocery and household needs with an in-house last-mile logistics solution. Users can order anything from milk to fresh fruits for a guaranteed delivery at 7 am. It delivers over 3,000 products that include milk, bread, eggs, butter, juices and other daily essentials to its users. Milkbasket now serves 15 clusters in Gurgaon, each cluster having a user base of around 500.
“We will use this fund to expand the core team, further enhance our technology and beef up the logistics. We are aiming for a 10x growth in customers in the next four to five months and increase per customer spend by 2.5 to three times during this time,” Anant Goel, said chief executive officer of Milkbasket.
Milkbasket follows a prepaid model where users must deposit at least Rs 500 when they sign up. The company says its app has recorded about 1,000 downloads so far.
The company said that it would focus on establishing itself in Gurgaon before expanding to other geographies. It also is expanding its offering portfolio with an aim to cover all daily needs of customers. Over the next 6 months, Milkbasket aims to grow to a 250-strong organization with 80% workforce in logistics and serving over 15,000 orders a day across more than 100 clusters in Gurgaon.