Sachin Bansal’s BACQ invests Rs 20 crore in Milkbasket

Sachin Bansal’s firm BACQ has invested Rs 20 crores in a daily grocery delivery service, Milkbasket. Launched in early 2015, Milkbasket is a daily grocery delivery service that (accessible on milkbasket.com, iOS and Android) delivers entire grocery needs of a household every day before 7:00 a.m. The company has built a technology platform to enable buying with features like one-click buying, no checkout and contactless delivery.

Anant Goel, Co-founder and CEO of Milkbasket said, “We are excited to have Sachin Bansal and BACQ on board. Our shared passion for technology led innovation will lead to incredible growth for Milkbasket''. The firm has redefined the industry benchmarks, is now working on the next set of innovations to further consolidate its market leader position across it’s fresh (fruit & vegetables) offering, automating the daily delivery supply chain and reducing go to market time for multi-city expansion. These funds would provide us with the needed CAPEX and R&D investments in all the three domains.” Anant added.

Milkbasket has raised close to $16 million from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures. Also, Milkbasket has recently acquired Veggie India to spread across Delhi NCR. The company has operations in Gurugram, Noida, Ghaziabad and Bangalore.  

Founded by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, Milkbasket's vision is to become the default mom and pop shop for over a million households by 2021. It has achieved positive unit economics within the first six months of the launch. The online retail market in India is expected to grow 250 per cent to touch Rs 1.8 trillion by 2020 fiscal, according to CRISIL.