Milk-delivery startups, the recent entrants in the hyperlocal market, are looking to merge with bigger rivals due to their inability to raise large sums.
“The smaller milk and grocery delivery startups are finding it challenging to independently scale without significant equity funding. There will likely be continued consolidation in the space,” said Ankur Pahwa, partner and consumer internet leader, EY India.
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For instance, grocery unicorn BigBasket is in advanced discussions to acquire subscription-based milk-delivery platform DailyNinja, which counts Sequoia Capital and Matrix Partners as investors, said two people aware of the development, requesting anonymity.
DailyNinja has been struggling to raise growth funds for over six months, said the first person, adding that the startup could be sold for about ₹100 crore.
Source: livemint
