Milkbasket

According to a report, the discussion with Urban Ladder has been going on for the last few months and is now at an advanced stage

Milkbasket is present in four cities so far including Gurugram, Noida, Bengaluru and Hyderabad. Goel said, the company had achieved break-even in three cities and Hyderabad would join the list soon

According to Milkbasket, its Gurgaon, Noida and Bengaluru operations are already breaking even with other cities on an accelerated track

Existing investors Blume Ventures, Kalaari Capital, Mayfield India, Unilever Ventures and BeeNext have also participated in the Series B round, a statement said

Delivery picks up slowly, but firms struggle as staff stay away

Government of Karnataka and Maharashtra have now put out an order saying that e-commerce shall be excluded from the restrictions to prevent the spread of Covid-19.

Earlier this year, Milkbasket had acquired Noida-based Veggie India

Milkbasket co-founder and CEO Anant Goel said the company will continue to invest significantly to establish a robust processing and distribution network over the next year

Milkbasket said more than 70 per cent of its revenue comes from non-milk products

Indian market for food & grocery is estimated at $413 bn & is expected to grow at a rate of 25-30%

Funds will be used to expand the core team, enhance technology and beef up the logistics