Daalchini, a retail tech startup, said it has raised $4 million in its Series A funding round led by Unicorn India Ventures. The round also saw participation from existing backers like Artha Venture Fund, Ajay Kaul – former CEO of Dominos India, and VSS Investco – the investment vertical of Vijay Shekhar Sharma – CEO of Paytm.
Founded in 2017 by ex-Paytm executives Prerna Kalra and Vidya Bhushan, Daalchini sells snacks and home-style meals to through automated kiosks, mobility retails, and vending machines. Currently, the Daalchini app has more than 2 lakh monthly active users, the company said.
In a prepared statement, the company said it wants to make its solutions accessible to 10 million retail points in India and more than 450 direct-to-consumer brands.
Daalchini has achieved a Product Market Fit (PMF), with Rs 12 crore of revenue in FY222, the statement said. The company aims to clock Rs 50 crore in revenues with a GMV or gross merchandise value of Rs 130 crore in 12 months.
“Daalchini aims to establish its footprints at every 200 meters of habitable area with its autonomous smart stores and vending machines. Today, our country has just a few thousand vending machines, while the US or Japan has more than one autonomous store for every 200 people. We are far from the true potential of this kind of retail,” said Prerna Kalra, cofounder and CEO of Daalchini Technologies.
Daalchini is present in more than 20 cities in India.
Start your day, the smart way!
1 Mail | 2 Minutes | 3 Stories