Groceries subscription startup Supr Daily has raised $1.5 million (Rs 10 crore) from Silicon Valley-based investors Soma Capital, Great Oaks Ventures and 122 West Ventures, co-founder Puneet Kumar told VCCircle.
Others who participated in this round include Y Combinator partners Paul Buchheit and Jared Friedman, and RedMart founder Roger Egan. Y Combinator is a US-based startup accelerator while RedMart is a Singapore-based online grocery.
Supr Daily, operated by Supr Techlabs Pvt. Ltd, was founded by IIT-Bombay alumni Kumar and Shreyas Nagdawane in 2015. It delivers daily consumable goods such as milk, bread, eggs and coconut water, to users every morning.
“We are present in 15 neighbourhoods in Mumbai, and plan to expand in the city and other metros soon,” Kumar said.
The Supr Daily app follows a direct-to-consumer model adopted from the daily milk use-case in India to make deliveries, which it claims has helped it bring down the delivery cost per order to as low as Rs 1–3 as compared to the e-commerce benchmark of Rs 50. The company claims this business model has helped it achieve operational profitability.
In March, Supr Daily had raised $120,000 from Y Combinator. In December 2016, the company had raised an undisclosed amount of funding led by angel investors from Venture Catalysts, a seed investment platform. Snapdeal founders Kunal Bahl and Rohit Bansal have also invested in the startup.
“Supr Daily has the potential to become the game-changer in the industry. With the latest influx of funds, we are affirmative that the brand will be able to grow, expand and establish its leadership status in the industry,” said Apoorv Ranjan Sharma, co-founder and president at Venture Catalysts.
The Economic Times first reported the new round of fundraising.
Similar startups in this field include Bengaluru-based hyperlocal delivery startup Daily Ninja. It raised a pre-Series A round of funding led by TaxiForSure founder Aprameya Radhakrishna and Venk Krishnan of NuVentures.
Satvacart is another online grocery store, which raised its third round of angel funding last year.
In October last year, former Housing.com chief operating officer Rishabh Gupta co-founded groceries startup The Box along with Vaibhav Chhimpa, a former product manager at the real estate portal.