DailyNinja a Bangalore based hyperlocal platform has raised Pre Series A round of funding. This round was led by an existing invester, Venk Krishnan Partner at NuVentures.
Other investors participated in this round include Kunal Shah of Freecharge, Founder of TaxiForSure- Aprameya Radhakrishna, Tracxn Labs, Anupam Mittal of Shaddi.com, Ravi Garkipati- EIR and SVP at Flipkart, Subramanya SV, Ex-partner at BVP and Singapore based investor. The round was raised using the TracxnSyndicate and LetsVenture platform.
The funds will be used to expand its customer base and to upgrade its operations.
Neha Singh, co-founder of Tracxn said
“The team is solving the challenges that exist in the supply of daily consumer essentials by leveraging the network of existing low-cost operators making it scalable and profitable at the same time. In addition, the company has a strong team with the execution capabilities to scale this model efficiently”.
DailyNinja was founded in June 2015 by Sagar Yarnalkar and Anurag Gupta, both BITS Pilani graduates. They previously co-founded Appspire Technologies a Mumbai based mobile services company. It provides their customers with hassle free and easiest way of ordering experience of household needs based on prepaid subscription model. It allows its users to subscribe for daily needs including Milk, eggs, bread, paneer, curd and water cans etc. Currently present in Bangalore it claims to fulfill more than 6000 orders a day.
As it will grow its cost of Rs 3 per delivery will cut down to half. In morning scheduled delivery will help it to move fast and avoid traffic providing 100% satisfaction. It ensures to reach the users on time, and returns can be easily picked up at no cost the next day.
Sagar Yarnalkar co-founder of DailyNinja said
“Scheduled deliveries in morning also help us move fast and avoid traffic while having 100% fulfilment. Subscription based daily deliveries ensure we reach your home everyday, thus implying that returns can be easily picked up the next day at no cost. As our model has the backbone of subscriptions, we have next to zero churn and unbelievable user engagement statistics. A customer opens the app 4 times a week on an average mostly leading to transactions.”
Other players in the same segment includes ZopNow, Big Basket, Grofers and among others.