Hyperlocal subscription-based delivery startup DailyNinja said it has raised US $3 million from Saama Capital and existing investor, Sequoia Capital.
The company, which provides early morning delivery of everyday essentials, offers services in Bengaluru and Hyderabad and reaches 25,000 households.
“The company intends to use the capital to expand their business by acquiring more customers across Bengaluru, Hyderabad and Gurgaon. The funds will also be used upgrade customer experience by adding more offerings for their customers,” DailyNinja said in statement.
This is the second round of funding for DailyNinja, after it initially secured US $1.5 million in a round from Sequoia Capital in October 2017.
“This round will help us achieve our objective of reaching to 100,000 deliveries a day over the next 12 months. Our focus will continue to be on scale while ensuring better experience for our customers, we plan to bring DailyNinja to Hyderabad and Gurgaon soon,” said Anurag Gupta, Co-Founder of DailyNinja.
“We have been impressed by the way Sagar and Anurag have built significant traction in a very capital efficient manner and with a sound growth strategy. We believe the time is ripe for rapid acceleration in this segment and we believe this is the right team which can execute and scale,” added Ash Lilani, Partner, Saama Capital.
The company had also received seed funding in the past from prominent angel investors such as Kunal Shah and Sandeep Tandon of Freecharge, Aprameya Radhakrishna of TaxiForSure, and Anupam Mittal of Shaadi.com, among others.