Supr Daily was founded in 2015 and is a brand that delivers daily consumable goods like milk, bread, eggs, etc. to its subscribers every morning. The company has managed to bring down delivery cost per order to as low as INR 1-3 by following the direct-to-consumer model adopted from the daily milk use-case to make deliveries – whereas the e-commerce benchmark is of INR 50. “The key characteristic which sets aside this market is that the consumption behaviour is very high repeat and the market is already accustomed to a subscription based model,” said Shreyas Nagdawane, Co-founder, Supr Daily.
The brand has already achieved operational profitability through its novel business model, which was also instrumental in securing previous seed investments from Snapdeal founders – Rohit Bansal and Kunal Bahl. Speaking on the same, Snapdeal’s CEO, Kunal Bahl, said “The team has figured out the supply chain part so early on, which is usually the hardest and the most important part in any e-commerce business.”
Till date, Supr Daily has managed to close half a million orders with its convenient subscription management and doorstep delivery. They are currently operational in only select parts of Mumbai and will use the funds raised in this round to scale up its pan-Mumbai operations within the next six months.
What is it that has worked for Supr Daily? Puneet Kumar, Co-founder, says, “Our full stack approach in terms of sourcing, distribution and last mile delivery has enabled us to deliver delightful consumer experiences while making positive contribution margins on each delivery.”
The funding round included names from Redcliffe Capital and Overnite Express, however, it was led by Venture Catalysts. Speaking on the investment, Dr. Apoorv Ranjan Sharma, said, “What the team at Supr Daily is doing in the daily needs market is extremely unique. By building an exceptional delivery infrastructure from scratch, they have already taken the last mile delivery cost down by more than 90%, something which a lot of other habit forming apps and e-commerce players are still struggling with. We are extremely excited to add such an innovative venture to our portfolio of investee companies, and will be paying close attention to its future growth and scale.”