While most of the hyperlocal delivery startups are struggling, Daily Ninja, a subscription based hyperlocal delivery startup has managed to raise an undisclosed amount in pre-Series A round of funding through LetsVenture and TracxnSyndicate.
The current funding round was led by NuVentures’ Venk Krishnan. It also saw participation from other key investors such as TaxiForSure co-founder Aprameya Radhakrishna and Anupam Mittal and Kunal Shah of Freecharge.
Daily Ninja is currently operating only in Bangalore. But, with the new cash coming to the company, it is now planning to scale up operations to other cities, including Mumbai. It is also aiming to process more than 5,000 orders a day in near future.
Last year, in September, the company had raised an undisclosed amount in its seed funding round from Aprameya Radhakrishna, Naman Sarawagi, Afsal Salu, and six other angel investors.
Aprameya Radhakrishna, who has invested in both funding rounds of the startup, said,
While there may be hype about hyperlocal delivery startups failing, Daily Ninja seems to have got its fundamentals right. They are using the existing supply chain of milk vendors, who anyway knock on doors every day, and it also caters to customers efficiently through its subscription model. The company has grown substantially from the last round of investment which I was also a part of.
It was founded by Anurag Gupta and Sagar Yarnalkar in 2015. It is an online hyper local shopping platform which especially caters to the regular needs of people, daily at their doorstep. It enables users to subscribe to the daily needs products such as milk, bread, eggs, curd, paneer, dosa batter etc. and provides service from 7 am to 8 pm.
While there are many hyper-local startups in the grocery segment, DailyNinja is one of the few ones which is exclusively focusing on daily needs through a subscription based model.
The company’s team goes door to door to people and once they agree, the company set up its app on their phones, enabling them to easily start their subscription. Customers are required to maintain a minimum balance in the app wallet.
It will be interesting to see how Daily Ninja manages to run its operations when all major startups in this space are struggling. Grofers, one of the biggest company in this segment, had to consolidate, lay-off employees and even revoke campus job offers of 67 students.