This development comes after Sequoia-backed DailyNinja secured two consecutive rounds of funding by Saama Capital and Matrix Partners.
Bengaluru-based hyperlocal, subscription-based delivery startup, DailyNinja acquires Hyderabad-based WakeupBasket for an undisclosed amount in a part cash and part equity deal.
This development comes after Sequoia-backed DailyNinja secured two consecutive rounds of funding by Saama Capital, followed by Matrix Partners, and will help the company strengthen its presence in Hyderabad.
According to the deal, WakeupBasket employees will join the DailyNinja team, while the founders will lead the team in Hyderabad.
DailyNinja delivers milk, fresh vegetables and fruits, a space WakeupBasket operates in, giving the former a benefit of scale post-acquisition. This is the second deal for DailyNinja after it acquired 4amShop in August, which majorly delivers household essentials and groceries. In June, it secured $3 million in a Series A funding.
In an earlier interview with YourStory, DailyNinja co-founder Sagar Yarnalkar said,
DailyNinja has already become an established player within this segment and its unique model has shown sustainable unit economics along with a huge scale across the complete customer base.
DailyNinja was founded in 2015 by Sagar Yarnalkar and Anurag Gupta, and fulfills 35,00o orders every day across Bengaluru, Chennai and Hyderabad. The company aims to clock 100,000 daily transactions in the next six months.
Media reports state that WakeupBasket clocks about 2,500 orders every day. The startup was founded in 2015 by Satendra Pratap, who was later joined by Sai Varaprasad. The deal also stated that WakeupBasket’s customers will be shifted to the DailyNinja platform.