As per the deal, all Veggie India employees, including founders Jainendra Upadhyay and Shailendra Upadhyay, will join Milkbasket.
“The acquisition is in line with our growth plans for 2019 and adds further strength and distribution capabilities to the existing business,” Anant Goel, Co-founder and Chief Executive Officer, Milkbasket said in a statement.
Veggie India, operated by Ocado Garden Fresh Pvt Ltd, is an online grocery delivery platform founded last year. The company has presence in Noida and Ghaziabad.
“Jainendra and Shailendra have done a remarkable job with Veggie India, and within a year of operations, the company has acquired substantial business in their region with loyal customers. I am certain that their experience will be beneficial to the company, as Milkbasket embarks on an even aggressive growth path,” Goel said.
Milkbasket has established operations in Delhi, Gurgaon, Noida and Bengaluru. The company claimed that acquisition of Veggie India would help it grow its customer base by over 1 lakh households.
Launched in early 2015 by Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, Milkbasket has already raised close to US$ 16 million from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures.