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Pre-series A funding for MrNeeds

15 JUN,2017 | Noida

NFS Correspondent
groceries

Noida-based daily needs micro delivery startup MrNeeds has raised about $500K in Pre-Series A funding from a clutch of undisclosed investors.

Founded in 2016 by Hitashi Garg, Ravi Wadhwa, Ravi Verma, and Yogesh Garg, MrNeeds is an app-based subscription service. The startup delivers milk, bread, eggs, and other groceries.

The service is currently available in select localities in Noida. The startup will use the recently raised funds to expand its operations to other parts of the Delhi-NCR region, including Dwarka, Indirapuram, and Gurugram.

The micro delivery startup focusses on delivering the daily essentials by allowing customers to book subscriptions and then top-up anything as per the need. The company claims that it is able to reduce the cost of delivery up to 80 per cent of the industry standard.

Ravi Wadhwa, co-founder of MrNeeds said that they have fine-tuned their operations and their per delivery costs are 50 to 70 per cent lower than the industry standard.

The official website states that MrNeeds does not have a minimum order value for delivery. The startup does not charge for deliveries either. The team claims to focus on optimising the supply chain and reducing delivery costs.

Currently, the startup claims to serve over 36,000 orders a month, with 9,000 subscribers. Hitashi Garg, co-founder of MrNeeds stated that their model is designed from the ground up for sustainable profitability and have already achieved break-even in several pockets that they operate in.

In May 2017, subscription-based micro delivery startup Supr Daily raised about $1.5 Mn (INR 10 Cr) from a clutch of Silicon Valley investors – including Y Combinator partners Paul Buchheit and Jared Friedman. The round also saw the participation of Soma Capital, Great Oaks Ventures, 122 West Ventures, and RedMart founder Roger Egan.

Other startups that operate in the daily needs, micro delivery model, apart from MrNeeds include DailyNinja, MilkBasket, Town Essentials, RainCan, etc.

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