Daalchini, a company in retail technology, raised $4 million in a series A round that was led by Unicorn India Ventures. Artha Venture Fund, Ajay Kaul (former CEO of Dominos India), VSS Investco (the investment arm of Vijay Shekhar Sharma, the CEO of Paytm), and other well-known and established investors also participated in the round. This is the biggest round a company has raised so far in the market for smart vending machines.
The majority of the capital raised in this round will be used to increase the company’s technical skills and market reach in the business. The company seeks to make its solutions asset-efficient and available to 450+ F&B D2C companies and 10 million retail locations in India.
One of India’s fastest-growing retail tech firms, Daalchini, has experienced a 300% increase in growth over the past year. With revenue of Rs12 crore in FY22, the company has achieved product market fit (PMF). Within 45 days, more than 90% of their vending machines tested positive for EBITA.
The company’s 12-month revenue target is Rs50 crore, with a Gross Merchandise Value of Rs130 crore. In the following 12 to 18 months, the company aims to increase from 850+ to over 5,000 smart and autonomous retail points. With the additional capital, the company will be able to carry out its growth strategy and solidify its position as the largest network of smart retail locations.
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