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Milkbasket raises Rs 20 crore funding from Sachin Bansal's BAC Aquisition

The company expects to grow business by five times in next fiscal year at current growth rate

Press Trust of India  |  New Delhi 

Sachin Bansal
Sachin Bansal

founder Sachin Bansal's firm has granted Rs 20 crore investment to daily grocery delivery service for a period of three years.

"We are excited to have and on board. We have raised venture debt of Rs 20 crore for period of three years from BACQ," Anant Goel, of said.

has raised close to $16 million (about Rs 111 crore) from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, and It recently acquired to further deepen its footprints in Delhi-

"The venture debt will be used for investment in automation. We will also use it to facilitate our expansion in two more cities," Goel said.

Launched in 2015, Milkbasket delivers groceries, including branded milk, fruits and vegetables, in Noida, Bengaluru and Gurugram..

First Published: Mon, April 29 2019. 16:55 IST