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Retail tech startup, Daalchini has stated that it has raised $4 million in its Series A funding round led by Unicorn India Ventures.
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Retail tech startup, Daalchini has stated that it has raised $4 million in its Series A funding round led by Unicorn India Ventures.
This round additionally saw the participation from existing backers like Artha Venture Fund, Ajay Kaul, former CEO, Dominos India, and VSS Investco, the investment vertical of Vijay Shekhar Sharma, CEO of Paytm.
This retail startup was established in 2017 by ex-Paytm executives Prerna Kalra and Vidya Bhushan. It makes the sales of snacks and home-style meals via automated kiosks, mobility retailers, and vending machines.
As per the company data, the Daalchini app has more than 2 lakh monthly active users.
In a publicly prepared statement, the firm said that it aims for easy access of its solutions to 10 million retail points in India and more than 450 direct-to-consumer brands. The firm has also achieved a Product Market Fit (PMF), with Rs 12 crore of revenue in FY222, as per the statement.
Prerna Kalra, co-founder, and CEO, Daalchini Technologies said in a public statement, “Daalchini aims to establish its footprints at every 200 meters of habitable area with its autonomous smart stores and vending machines. Today, our country has just a few thousand vending machines, while the US or Japan has more than one autonomous store for every 200 people. We are far from the true potential of this kind of retail.”
The company has a goal to record Rs. 50 crore in revenues with a gross merchandise value of Rs 130 crore in 12 months.