financing roundwas led by Unicorn India Ventures. Daalchinianow wants to focus on expanding its industrial footprint and further developing its technical capabilities.
- The company aims for a turnover of 50 crore in 12 months.
Delhi-based retail tech startup Daalchini has raised $4 million in a Series A round led by Unicorn India Ventures.
The round also saw participation from Artha Venture Fund, Ajay Kaul – former CEO of Domino’s India, and VSS Investco – Paytm CEO’s investment vertical
Daalchini was founded in 2017 by former Paytm employees Prerna Kalra and Vidya Bhushan. institutions and residential complexes. It is present in more than 20 cities in India and has more than 200 franchise partners and more than 160 brands selling on its platform.
Now, following the recent funding round, Daalchini will focus on expanding its industrial footprint and improving its engineering capabilities. It aims to have a presence in 10 million retail outlets in India and 450+ F&B D2C brands.
Daalchini has grown 300% in the past 12 months with a turnover of ₹12 crores in FY2022. More than 90% of its machines are EBITA positive within 45 days.
Daalchini aims for a turnover of 50 crores with a gross trade value of 130 crores in 12 months. It plans to grow from 850+ to more than 5,000 smart and autonomous retail outlets in the next 12-18 months.
“The retail tech segment in India is undergoing a massive transition from its traditional brick and mortar store form to a digital one, which has accelerated due to the pandemic. At this stage, Daalchini represents the best of both worlds with a ubiquitous physical presence supported by a strong technology framework that prioritizes the needs and convenience of its clients,” said Ruchi Pincha, Investment Associate, Unicorn India Ventures.
Daalchini has affiliations with leading companies such as Reliance, Aditya Birla Group’s Hindalco, Vodafone, GE, Genpact, NITI Aayog, Housr, MX Player, Samsung, Paytm, Snapdeal, Byjus, EY, OLX, OYO, Loreal and VIVO, among others.
“Daalchini aims to establish its footprint on every 200 meters of habitable area with its autonomous smart shops and vending machines. Today, our country has only a few thousand vending machines, while the US or Japan has more than one autonomous store per 200 inhabitants. We are far from the true potential of this type of retailing,” said Kalra, who is also the CEO of Daalchini Technologies.
According to the
Kearney India Retail IndexThe retail industry, dominated by the food and grocery sector, will grow 9% from $779 billion in 2019 to $1.4 trillion in 2026 and reach $1.9 trillion by 2030. Despite the pandemic, research shows that the industry is to grow through valuable e-commerce and unprecedented reach in Tier 2 and Tier 3 cities.