A subscription-based delivery platform Daily Ninja that delivers everyday essentials to its customers has reportedly raised funds from Bengaluru-based Saama Capital and its existing investor Sequoia Capital worth $3 million.
Daily Ninja is a unique hyperlocal platform which is based on prepaid subscriptions. The service delivers products of daily needs to its customers through its mobile app. It aims to give the easiest, hassle-free ordering experience to its customers ideally suited to high quality and speedy ordering of household needs with a subscription-based model.
The funds raised by Daily Ninja will be utilized in the growth and expansion purposes. It aims to build its name and fame in the households across Bengaluru and Hyderabad. It wants to grow its business by attracting and gathering more customers from these cities along with Gurugram. The company will also upgrade customer experience by adding more offerings for their customers through the recent funding. This is the second funding by the company after raising funds from VC round in October 2017.
“With this fundraise we plan to expand in new cities and capture a bigger customer base in our home city of Bengaluru. We are delighted to have two very successful and respected investors in Sequoia and Saama capital partner with us,” said Sagar Yarnalkar, CEO and co-founder of Daily Ninja.
Saama Capital is an early stage investment venture which has its headquarters in Bengaluru. Ash Lilani is Managing Partner and Co-Founder of Saama Capital. The venture was earlier known as SVB India Capital Partners.
Apart from this, Sequoia Capital is a capital firm that mainly focuses on the technology industry. The company manages multiple investment funds including funds specific to India, Israel, and China. The firm invests in both public and private companies. It specializes in incubation, seed stage, start-up stage, early stage, and growth stage investments in private companies.
The company says that this funding round will help them achieve their objective and goals of reaching 100k deliveries per day in the coming 12 months’ time. The company plans to grow more and more and provide even better services to its customers.