30 May 2017, India:
Mumbai-based daily consumables delivery service Supr Daily has raised Rs. 10 crore in a fresh round of funding from multiple investors. The round was led by Soma Capital, Great Oaks Ventures and 122 West Ventures.
Y Combinator partners Paul Buchheit and Jared Friedman have also participated in the round, along with RedMart founder Roger Egan.
“Supr Daily is solving an original Indian problem with unique insights about the Indian market. Their approach to building an everyday supply chain by piggybacking on the daily milk habit is truly remarkable,” said Jared Friedman, Partner at Y Combinator.
Founded in 2015 by IIT-Bombay alumnus Puneet Kumar and Shreyas Nagdawane, Supr Daily claims to have served more than 1 million deliveries since inception and commands a higher margin as compared to the industry average of 3-4%. Supr Daily claims to clock margins ranging between 10% and 15% per order. Kumar said the elimination of 4-5 layers of middlemen helps cut the delivery cost and also swell the margins per order and that in turn has aided the milestone of operational profitability.
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