Doodhwala raises undisclosed amount for pre-Series A round
Founders: Ebrahim Akbari and Aakash Agarwal
Founded in: 2015
Financing status: Undisclosed amount for pre-Series A round in 2017
Bangalore-based online milk and grocery delivery startup Doodhwala has raised an undisclosed amount for pre-Series A funding round from Tom Varkey, a partner at US-based hedge fund Stonehill Capital Management.
Doodhwala was founded in 2015 by Ebrahim Akbari and Aakash Agarwal. Akbari previously worked as Managing Partner at Akbari International FZE. Agarwal was the Executive Director at Uni Profiles, an engineering-focused company.
Doodhwala is an app-based subscription platform for delivery of milk and grocery products. They deliver daily essentials between 5 am and 7:30 am. The products include fresh milk, bakery items, fruits, vegetables, household products, personal care items, etc. They claim to have more than 70 varieties of milk offered on their platform. The users can filter products based on their lifestyle, age and health condition. For example, the users can choose items accordingly if they are pregnant, athletic, diabetic or on a weight-loss regimen. The startup claims a 80% customer retention rate. The startup uses both of part-time delivery boys and milk suppliers for milk delivery.
Investor, Tom Varkey, commented that “[the startup’s] unit economics are healthy as they have an impressive delivery infrastructure with a 25% month-on-month growth rate”.
The startup will use the new investment to strengthen its technology, expand their market size, and increase the number of team members.
Other players in this area in India include MrNeeds, RainCan, Supr Daily, etc.
(Top photo from Pixabay)