Sequoia-backed DailyNinja acquires micro-delivery platform 4amShop
With $4.5 million funding in its pocket, hyperlocal micro-delivery platform DailyNinja has made its first acquisition in Hyderabad. With plans to expand its operations in the city, the milk-tech player has consolidated Hyderabad’s local milk and daily essentials delivery platform – 4amShop – for an undisclosed amount.
Anurag Gupta, co-founder of DailyNinja said that it was natural for two companies with same belief system to come together.
Furthemore, this is a strategic move for DailyNinja. Till now, the company had a strong hold in micro delivery services in Bengaluru and had launched its services in Hyderabad couple of months ago.
A release from DailyNinja claims that it serves 30,000 households across both the cities, out of which 3,500 houses are in Hyderabad.
With 4amShop’s acquisition, DailyNinja is the only micro-delivery platform in Telangana’s capital. The deal also increases the reach of the former in Hyderabad.
Anurag Gupta and Sagar Yarnalkar led DailyNinja had received funding in two rounds which were aimed at increasing its consumer base and service quality. Entrackr had exclusively reported its series A $1.5 million funding by Sequoia Capital in December 2017.
In June this year, it raised $3 million in a fresh round led by Saama Capital, where Sequoia also participated. Meanwhile, Shobhanbabu Bhukya, Malathi Bhukya and Yashaswy Rao led 4amShop had secured about a crore crore from Hyderabad based HNIs to provide milk, newspaper and other micro grocery delivery services to its consumer base in the city.
It’s a win-win for both the parties involved, as well as the consumers.
Unlike online grocery play, operating in milk-tech segment gives loyal consumer base and sound unit economics. Which is why online grocery delivery platforms like BigBasket and Swiggy consolidated milk-tech in their verticals to attempt at profitability.
With BigBasket in talks to acquire RainCan and having already acquired Morning Cart along with Swiggy planning to amalgamate SuprDaily, Milkbakset and DailyNinja remain the two largest players in micro-delivery segment. And now it remains to be seen how these two will fight these deep pocketed delivery giants in upcoming future.
Source: Entrackr
