Online milk delivery start-up Doodhwala receives $2.2mn funding
Doodhwala, a micro delivery service for fresh groceries, today said it has received a seed investment of $2.2 million by Omnivore, a venture capitalist firm, for a minority stake in the company. The new financing will go towards expanding Doodhwala's service into new markets, funding talent acquisition and upgrading technology, the company said. It also said Reihem Roy, Principal, Omnivore will join the board.
Doodhwala: One stop solution for fresh milk and daily needs
The hyperlocal delivery platform, Doodhwala, is a subscription-based, early-morning delivery platform for all fresh groceries sourced directly from local farms and dairies. The company said it offers users a wide selection of items ranging from fresh milk, meat, vegetables, fruits to shelf stable items, delivered to their door before 7am every day. One can filter products based on the lifestyle, health condition and liking.
Straight from the horse's mouth
"Our unit economics are exceptionally strong. By lowering our delivery cost to Rs. 3, Doodhwala is uniquely positioned in a market where other players are struggling," Doodhwala Co-Founder Ebrahim Akbari said. "We have done a great job of maintaining a steady month-on-month growth rate while scoring an 85% plus customer retention," he further added. Currently operating in Bengaluru and Pune, Doodhwala has over 4 lakh month deliveries.
Doodhwala's Pre Series A funding
The new funding comes less than a year after the company raised an undisclosed amount in another Pre Series A funding from Thomas Varkey, a partner at Stonehill Capital, USA.
