[Funding alert] Milkbasket raises funding of Rs 20 Cr from Sachin Bansal's BACQ
Gurugram-based startup Milkbasket has raised funding of Rs 20 crore from Sachin Bansal's family office BACQ. Post this, Sachin will be joining Milkbasket's board.
- Hyperlocal delivery startup Milkbasket raised Rs 20 crore funding from Sachin Bansal's BACQ.
- While the company has confirmed the funding in a press statement, its Registrar of Companies (RoC) filings state that it has raised Rs 10 crore so far.
- Milkbasket is now working on the next set of innovations to further consolidate its market leader position across it's fresh (fruit and vegetables) offering, automating the daily delivery supply chain and reducing go to market time for multi-city expansion.
- According to CRISIL, the online retail market in India is expected to grow 250 percent to touch Rs 1.8 trillion by fiscal 2020.The hyperlocal space is heating up again.