Micro-delivery Milkbasket acquires PSR Supply Chain

By Bhavya Dilipkumar

Grocery and milk delivery startup, Milkbasket has acquired PSR supply chain for an undisclosed amount in its attempt to grow its customer base and expand footprint in Bengaluru.

Founded in 2015, PSR Supply Chain is a local e-grocery store, which ceased operations lay month. Milkbasket has integrated its customers and offerings into its portfolio.

“The acquisition of PSR Supply Chain helps us in further strengthening our customer base and offerings in Bengaluru. We are looking for further acquisitions to strengthen our presence, nationally,” said, Anant Goel, co-founder & CEO of Milkbasket.

Gurgaon-based startup has raised close to $26 million in equity funding from Mayfield India, Beenext, Kalaari Capital, Unilever Ventures, Lenovo Capital (LCIH), Blume Ventures, few family offices and $2.2 million in debt funding led by Innoven Capital till date.

Micro-delivery startups including MilkBasket, BigBasketDaily, Doodhwala, and DailyNinja have caught the attention of investors. India Trendbook 2019, a research study submitted by EY and The India Private Equity and Venture Capital Association (ICVA) states, the tech-enabled ‘near-me’ concept is catching up fast with consumers will boost growth for hyper-local platforms.

Milkbasket is a hyper-local, micro-delivery platform that facilitates customers to order from a selection of grocery items and milk all day until midnight. The packages are delivered to homes the next morning.