Milkbasket Raises $7mn in Series A from Mayfield Advisors

In January it announced a pre-Series-A investment by Unilever Ventures Blume Ventures and Lenovo Capital
  • Franchise India Buereau
Restaurant India

Daily top-up grocery player Milkbasket, has announced an additional infusion of $7 million to its Series-A funding, led by Mayfield Advisors, a US-based venture capital firm, with participation from existing investors.

The latest round brings Milkbasket's total Series-A funding to $14 million.

“We are excited to support the Milkbasket team in chasing their impressive mission of making grocery delivery as hassle free as possible. Regarded as the future of the industry, The company’s pioneering model has reinvented everyday lives of its customers.” said Nikhil Khattau, MD, Mayfield India

Milkbasket is recording 15 per cent growth month-on-month and has raised a Series-A investment led by Kalaari Capital in May.

In January, it announced a pre-Series-A investment by Unilever Ventures, Blume Ventures and Lenovo Capital.

“The backing from Mayfield validates our model and acknowledges the scale of our ambition. The funding will accelerate our goal of making Milkbasket synonymous with grocery delivery, nationally. The funds will also enable us in investing adequately in developing the technology and hiring for the next growth phase,” added Anant Goel, Founder, Milkbasket.

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