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COMPANY REPORT

Milkbasket acquires PSR Supply Chain to strengthen its customer base
Friday, 12 July, 2019, 08 : 00 AM [IST]
Our Bureau, Bengaluru
Milkbasket, a part of the Aaidea Solution, has now acquired PSR Supply Chain to strengthen its customer base. The company, however, did not disclose the deal amount.

Set up in 2015 by Nagarjuna Reddy Chagamreddy and Sai Abhishek Velukuru, PSR Supply Chain is a local e-grocery store, and Milkbasket stated that it had has integrated the start-up’s customers and offering into its portfolio.

PSR Supply Chain has ceased operations as of June. In four years of operations, the company established a network of over 4,000 registered customers, and its last reported annual turnover was over Rs 2.5 crore.

“The acquisition of PSR Supply Chain helps us in further strengthening our customer base and offerings in Bengaluru. While we are growing phenomenally on our own, we are always on the lookout for strategic acquisitions to help us shorten our learnings in specific regions or technologies,” stated Anant Goel, co-founder and chief executive officer, Milkbasket.

Earlier this year, Milkbasket had acquired Noida-based Veggie India.

Unilever Ventures-backed Milkbasket had launched operations in early 2015. It has, till date, raised close to $26 million (or approximately Rs 180 crore) in equity funding and counts Mayfield India, Beenext, Kalaari Capital, Lenovo Capital and Blume Ventures among its investors.

The company kicked off operations in 2015 to become a daily micro-delivery service. It is accessible to customers on milkbasket.com, iOS and Android and is enabling the entire grocery needs of a household everyday before 7am.

“To enable frequent and friction- less buying, Milkbasket has innovated flexi-ordering and contactless delivery, both firsts in the e-commerce industry and favourites of Milkbasket customers,” said the company note.
 
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