Retail tech startup Daalchini raises $4 Mn in Series A
Retail tech startup Daalchini has secured $4 million in a Series A round led by Unicorn India Ventures along with participation from its existing investors such as Artha Venture Fund, Ajay Kaul, and VSS Investco.
The proceeds will be deployed to expand its industry footprint and tech capabilities, the company said in a press statement.
Founded by Prem Kalra and Vidya Bhusan in 2017, Daalchini provides instant, affordable, 6-meals-a-day food options through IoT-enabled ‘phygital’ vending machines. Its product suite has a platform to launch vending machines, micro-markets, automated kiosks, and mobility solutions.
Currently, Daalchini has over 200K monthly active users and claims 300% growth in the past year. While the company is yet to file an annual financial statement for FY22, it claims Rs 12 crore revenue during the last fiscal year (FY22). The company claims to have a presence in more than 20 cities with over 200 franchise partners.
Close to 160 brands such as Sleepy Owl, The Whole Truth Foods, Open Secret et al are distributing their products through Daalchini. It also claims to have collaborated with more than 160 brands like Sleepy Owl, The Whole Truth Foods, Open Secret, Yoga Bar, et al. The company’s retail-as-a-service platform enables these brands to grow in hundreds of physical stores while tracking real-time insight digitally.
According to Daalchini, it aims to clock Rs 50 crore in revenues with a gross merchandise value (GMV) of Rs 130 crore in 12 months. The company plans to grow from more than 850 to over 5,000 smart and retail points by 2023.
Daalchini seems to be an intriguing startup with inspiring development on technology, information and internet platform. All the best to the whole group. This will give them an enormous achievement in the future.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.
For Editorial/Rectification please email firstname.lastname@example.org