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BigBasket acquires Saama Capital-backed micro-delivery startup DailyNinja
Sagar Yarnalkar, CEO and co-founder, DailyNinja

Online grocery platform BigBasket, operated by Supermarket Grocery Supplies Pvt. Ltd, has fully acquired micro-delivery startup DailyNinja.

BigBasket said in a statement the acquisition would help the firm to consolidate its leadership position in the subscription delivery business and will also help DailyNinja grow its business.

“DailyNinja currently has a large network of milkman partners which will enable us to expand our offerings,” Hari Menon, co-founder and CEO at BigBasket, said.

The move comes just days after reports said that Bengaluru-based BigBasket was in acquisition talks with DailyNinja and its peer, Milkbasket. At the time, the reports said that Milkbasket had also held discussions with companies such as Swiggy, Amazon India and Dunzo.

Citing people aware of the developments, the reports said both deals would be distress sales and majority stock acquisitions through share swaps. The move is expected to fetch BigBasket a higher valuation than the $1.2 billion it attained in its most recent round of funding last year, the people said.

Bengaluru-based DailyNinja was set up in 2015 by Sagar Yarnalkar and Anurag Gupta, and its investors include firms such as NuVentures, Sequoia Capital India, Tracxn Labs, and Saama Capital. In October 2018, DailyNinja acquired Hyderabad-based WakeupBasket in a cash-and-equity deal. It had previously bought Hyderabad-based 4amshop in August that year.

It secured $3 million (around Rs 20 crore) in a Series A round in June that year, with Saama Capital leading. Sequoia Capital had also put in money in the startup at the time.

BigBasket, meanwhile, was established in 2011 in Bengaluru. The company sells and delivers everyday groceries, produce and household supplies. It also conducts deliveries of its products using a slot-based system.

In July last year, venture debt firm Trifecta Capital extended a cheque of Rs 100 crore ($14.5 million) to BigBasket. At the time, the company said it would use the funds to meet its working capital and capital expenditure requirements. BigBasket had previously raised venture debt of $7 million (Rs 45 crore) from Trifecta Capital in March 2017.

In March 2019, the grocery platform raised $150 million (about Rs 1,040 crore) in a fresh round of funding led by South Korean firm Mirae Asset.

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