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Daalchini raises $4 mn in Series A round led by Unicorn India Ventures
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Friday, 09 September, 2022, 16 : 00 PM [IST]
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Our Bureau, Mumbai
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RetailTech startup Daalchini has raised $4 million in a Series A round led by Unicorn India Ventures. The round also saw participation from prominent and existing investors like Artha Venture Fund, Ajay Kaul – former CEO of Dominos India, and VSS Investco – the investment vertical of Vijay Shekhar Sharma – CEO of Paytm. So far, this is the largest round raised by a company in the smart vending segment.
A large part of this funding will be deployed to expand their industry footprint and further their tech capabilities. The company wants to make its solutions asset-efficient and accessible to 10 million retail points in India and 450+ F&B D2C brands.
Founded in 2017 by ex-Paytm colleagues Prerna Kalra and Vidya Bhushan, Daalchini takes affordable snacks and home-style meals to its customers through technology-efficient models like automated kiosks, mobility retails, and smart vending machines.
Currently, the Daalchini app has more than 2 lakh monthly active users.
The company has grown 300% in the last 12 months, making it one of India’s fastest-growing RetailTech startups. It has achieved a Product Market Fit (PMF), with ?12 crore revenue in FY2022. More than 90% of their vending machines are EBITA positive within 45 days.
The company aims to clock ?50 crore in revenues with a GMV of ?130 crore in 12 months. It intends to grow from 850+ to over 5,000 smart and autonomous retail points in the next 12-18 months. The new funding will enable it to continue executing its growth strategy and strengthen its position as the largest network of smart retail stores.
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