Supr Daily, a hyperlocal delivery startup, has today raised an undisclosed amount of funding its seed round from Venture Catalysts. The angel investors who poured in money include Apoorv Ranjan Sharma, Anil Jain, Anuj Golecha, Krishna Jhunjhunwala, and Anirudh Damani.
Apart from them, several other angel investors including Dheeraj Jain (partner at Redcliffe Capital) and Harsh Rajgarhia (Overnite Express) also participated in this round.
With new funding coming to the company, it will now be spending the money to scale up its pan-Mumbai operations in the next 6 months. The company had previously secured funding from Snapdeal founders Kunal Bahl and Rohit Bansal.
Founded in 2015 by Puneet Kumar and Shreyas Nagdawane, Supr Daily is a subscription startup that delivers daily consumables such as milk, bread, eggs, and coconut water to its users every morning.
Commenting on the investment, Dr. Apoorv Ranjan Sharma said,
By building an exceptional delivery infrastructure from scratch, they have already taken the last mile delivery cost down by more than 90%, something which a lot of other habit forming apps and ecommerce players are still struggling with. We are extremely excited to add such an innovative venture to our portfolio of investee companies, and will be paying close attention to its future growth and scale.
The company is following direct-to-consumer model where they directly procure goods from farmers and producers. This approach brings down the per-order delivery cost to as low as Rs 1–3 compared to the e-commerce benchmark of Rs 50.
Venture Catalysts, which has more than 2,000 angel investors, has so far invested $3 million in 15 startups in the last one year across e-commerce, fintech, artificial intelligence, and logistics.
While hyperlocal delivery startups are raising funding, the sector has witnessed more downs than ups since past year. Several startups in this sector have closed shops, including heavily funded PepperTap.
However, funding keeps coming to startups in this space. Earlier this year, Milkbasket raised $500,000 in Pre Series A funding. In August 2016, Bengaluru-based DailyNinja raised an undisclosed amount in a Pre-Series A round.