This is the second venture capitalist round that DailyNinja has raised after a $1.5mn dollar round that was recently raised in October 2017 from Sequoia Capital. With a total $4.5mn in funds, 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 to upgrade customer experience by adding more offerings for their customers.
Sagar Yarnalkar, CEO and co-founder of DailyNinja, said, “With this fundraise, we plan to expand in new cities and capture a bigger customer base in our home city Bengaluru. We are delighted to have two very successful and respected investors in Sequoia and Saama capital partner with us.”
Anurag Gupta, co-Founder of DailyNinja added, “This round will help us achieve our objective of reaching 100k 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.”
Ash Lilani, Partner at Saama Capital said, “We are impressed by the way Sagar and Anurag have built significant traction in a capital-efficient manner, 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 who can execute and scale.”