Supr Daily, an everyday consumable subscription firm raised Rs 10 crore from big Silicon Valley Investors.
About Supr Daily
This is a Mumbai based firm and previously selected for global accelerator programme of Y Combinator and now it has raised a capital from Great Oaks ventures, Soma Capital, and 122 West Ventures. RedMart founder Roger Egan and YC Partners and Friedman and Paul Buchheit also participated in this funding round.
Company is solving original problem in India
Jared Friednab, who is the partner at Y Combinator, said that, “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”.
Working model of the company
Supr Daily adopted the farm-to-consumer model that is used in the milk use case. This methodology assists in low cost in delivery operation with as low as Rs 3 per order which further ensures high margins.
Company’s founder, Puneet Kumar told on utilization of capital in an interview that, “Right now, we are in 15 neighborhoods in Mumbai. We want to evolve a city blueprint to take that to 100 neighborhoods before we scale to other cities”.
How to manage margins
Company claims that it has catered over 1 million deliveries since its foundation and charges an enhanced margin than industry margin of 3-4%. Kumar said that elimination of middlemen will surely cut down the delivery costs and increase the margins on each order will help to put a milestone in its operational margins.
Growth rate of the company
The company affirms that the achieved growth rate is more than 30% and it is hoping to amplify its delivery leg of 50 members as it scales in the city in current year.