2018-09-20

Matrix Partners India invests in DailyNinja

Bengaluru, September 20, 2018: Matrix Partners India announced today that it has invested in DailyNinja, a milk and grocery delivery startup. Existing investors Sequoia India and Saama Capital also participated in the round. The funds will be used to further strengthen DailyNinja’s market leadership in the daily essentials space, by expanding to new cities beyond Bangalore, Hyderabad and Chennai.

Founded by Sagar Yarnalkar and Anurag Gupta in 2015, DailyNinja is a daily grocery service, that delivers staples such as milk, bread, eggs, vegetables, curd, and other groceries right to  customers’ doorsteps via a simplified subscription model. The app also provides a seamless payment experience that eliminates the arduous process of reconciling bills on a monthly basis. Both Sagar and Anurag hail from BITS Goa and have previously worked with CarWale and Goldman Sachs respectively.

Commenting on the investment, Sagar Yarnalkar, Co-Founder, DailyNinja, said, “We are very excited to have Matrix Partners India invest in us with continued support from our existing investors Saama Capital and Sequoia India. We are the clear market leaders in this space and this investment is an outcome of the progress we have been making. We look forward to accelerating our growth further and extending our lead further”

Anurag Gupta, Co-Founder, DailyNinja, added, “These are exciting times for our segment. We will continue to focus on our expansion strategy across multiple cities. We will also be hiring aggressively.” 

Daily consumption of milk is an India-specific habit. DailyNinja has been able to leverage this habit to create a pipeline to customers’ homes, and has built an attractive business on top of this distribution channel. Their unique hybrid approach of using the existing milk delivery system as well as their own in-house delivery fleet has enabled them to outpace competition. We are privileged to be in business with Sagar and Anurag, along with pedigreed existing investors Sequoia and Saama, and look forward to partnering with them on their journey of building on their market leadership.” said Gourav Bhattacharya, Director, Matrix India.

About DailyNinja:
DailyNinja is a subscription based milk and grocery delivery app. They partner with milkmen, milk brands and B2B grocery distributors to digitise the entire supply chain. The company has quadrupled over last 12 months and is currently delivering over 30,000 orders per day across Bangalore, Hyderabad and Chennai. More information about DailyNinja can be found at www.dailyninja.in

About Sequoia:
Sequoia helps founders turn imaginative ideas into enduring companies. As the “Entrepreneurs Behind the Entrepreneurs,” the Sequoia US team has worked closely with legendary founders such as Steve Jobs, Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Brian Acton and Jan Koum, Len Bosack and Sandy Lerner, Sergey Brin and Larry Page, Reid Hoffman and Jeff Weiner. Our partner entrepreneurs in India include Amit and Anurag Jain, Girish Mathrubootham, Byju Raveendran, Jaspreet Singh, Darshan and Dipam Patel, Alan Mamedi and Nami Zarringhalam, and Deepinder Goyal among others. Sequoia is now helping the next generation of innovators build the lasting companies of tomorrow. To know more about Sequoia in India visit www.sequoiacap.com/india

About Saama Capital:
Saama Capital is an early stage, sector agnostic, India-focused firm investing since 2006. The Saama Capital team is currently investing out of its fourth fund and has built significant knowledge in several sectors including financial services/fintech, SaaS and consumer product companies. Saama has backed a number of companies including PayTM, Sula Wines, Snapdeal, Raw Pressery, Veeba Foods, Chaipoint, Vistaar Financial Services, Lendingkart, Shubham Housing Finance, Shubhloans and Fisdom.

About Matrix Partners India:
Matrix Partners India is an investment firm with INR 4,500 crores under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading companies such as Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Treebo (digital hotel chain), Limeroad (social e-commerce platform), Mswipe(mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), Centre For Sight (leading chain of specialty eye hospitals), and Cloudnine Hospitals (leading chain of maternity hospitals), among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India. More information is available at www.matrixpartners.in