Milkbasket, a Gurugram-based, grocery delivery startup, has taken over PSR SupplyChain, a local e-grocery store in East Bengaluru.
The acquisition will help Milkbasket to expand its business further in Bengaluru, to integrate all of SupplyChain’s customers and its product offerings to its portfolio.
“The acquisition of PSR SupplyChain helps us in further strengthening our customer base and offerings in Bengaluru. While we are growing phenomenally on our own, we are always on the lookout for strategic acquisitions to help us shorten our learnings in specific regions or technologies,” Anant Goel, co-founder and CEO of Milkbasket said.
Launched in early 2015, Milkbasket is India’s first and largest daily micro-delivery service.
Built on the unique Indian habit of getting fresh milk delivered at home every morning, Milkbasket is fulfiling the entire grocery needs of a household everyday before 7:00 a.m.
The company currently operates in Bengaluru, Gurugram, Delhi, Noida, and Ghaziabad. It claims to serve over 100,000 households today.
On the other hand, PSR SupplyChain was founded by Nagarjuna Reddy Chagamreddy and Sai Abhishek Velukuru in 2015. The company has ceases its operations as of June 2019.
Milkbasket is currently present in four cities across India, and has seen a growth rate of approximately 20 percent month-on-month.
Last month, Milkbasket raised a funding of $10.5 million, led by Unilever Ventures, which also saw participation from Mayfield India, Kalaari Capital, and Blume Ventures.
So far, Milkbasket has raised $26 million in equity funding and $2.2 million in debt funding. While, other grocery delivery startups include Anandha Grocery, BHIMART, BigMamma, BigBasket, Happy Grahak, JumboGrocery, MeraKisan and others.