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Milkbasket raises $2.86 million from Flipkart Cofounder Sachin Bansal

30Apr By PriyankaNo Comments

FUNDING

Milkbasket raises $2.86 million from Flipkart Cofounder Sachin Bansal

India's leading online e-commerce platform Flipkart (now owned by Walmart) co-founder Sachin Bansal's firm BACQ invested $2.86 million (20 Crore INR) debt investment in daily grocery delivery service Milkbasket. The investment cycling will happen for a period of three years. "We are excited to have Sachin Bansal and BACQ on board. We have raised venture debt of Rs 20 crore for period of three years from BACQ," Anant Goel, Co-founder and CEO of Milkbasket said. Milkbasket has raised close to $16 million (about Rs 111 crore) from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures. It recently acquired Veggie India to further deepen its footprints in Delhi-NCR. "The venture debt will be used for investment in automation. We will also use it...

27Mar By PriyankaNo Comments

ACQUISITION

Milkbasket acquires Veggie India

Daily grocery delivery start-up Milkbasket has acquired Noida-based Veggie India for an undisclosed amount. As per the deal, all Veggie India employees, including founders Jainendra Upadhyay and Shailendra Upadhyay, will join Milkbasket. "The acquisition is in line with our growth plans for 2019 and adds further strength and distribution capabilities to the existing business," Milkbasket co-founder and Chief Executive Officer Anant Goel said in a statement. Veggie India, operated by Ocado Garden Fresh Pvt Ltd, is an online grocery delivery platform founded last year. The company has presence in Noida and Ghaziabad. "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...

26May By Sheldan RungasamyNo Comments

FUNDING

Funding News of the Last Week (May 21st – 26th 2018)

This week witness a lot of funding rounds, 14 to be precise for a total amount of around $130 Million. HDM Global was the company which received most funding with $100 Mn, while Bonphul Air Product and Rocketium raised the least funds with $300K funding. Below is a recap of all the funding news that happened this week : LifeSight LifeSight, an artificial intelligence-powered location intelligence platform based in Singapore, recently raised $2 million in a pre-Series A funding round led by shareholders of Provident Capital Partners, an investment firm based in Indonesia. The funds raised will be used to grow its engineering and data science abilities at its Bengaluru development centre as well as expand operations in other Asian markets in the next couple of yea...

22May By Sheldan RungasamyNo Comments

FUNDING

Gurugram-based Milk Delivery Startup Raises $7 Mn Series A Funding

Milkbasket, the grocery and milk delivery startup, recently raised $7 million in a series-A funding round led by Kalaari Capital. This funding round also saw the participation of existing investors Unilever Ventures and Blume Ventures and the arrival of new investor Beenext Ventures. The milk and grocery delivery space has seen several investments in recent times with startups such as Daily Ninja and Doodhwala raising funds. Earlier this year, Milkbasket raised $3 million from investment arm of consumer packaged goods company, Unilever. This latest influx of capital means that the milk and delivery startup has so far raised about $11 million. CEO Anant Goel announced that the funds raised will strengthen the startup’s technology, reach and abilities. Milkbasket currently serves ab...

Delhi-based E2E Networks’ IPO crosses one-third mark on First Day

5May By Lavina TolaniNo Comments

Market

Delhi-based E2E Networks’ IPO crosses one-third mark on First Day

Delhi-based Cloud Service Provider, E2E Networks Ltd. which is backed by Blume Venture Advisors witnessed its initial public offering cross the one-third mark on its first day itself. Post the IPO listing, the company is looking forward to entering on National Stock Exchange’s Emerge platform for small and medium enterprises. According to stock exchange data, the IPO received bids for 1.47 million shares against 3.86 million shares on offer. The book which currently does not have an anchor allotment saw 38% subscription at the end of the first day. Holani Consultants Pvt. Ltd, the merchant banker managing the IPO informed that about half of the IPO was reserved under non-institutional category comprising of wealthy individuals and corporate bodies. E2E is promoted by Tarun Dua and...