Daalchini, Startup, Raised $4 Million in A Round Led By Unicorn India Ventures

Daalchini, a retail tech startup based in Delhi, has raised $4 million in a series A round led by Unicorn India Ventures.  Artha Venture Fund, Ajay Kaul - former CEO of Domino's India, and VSS Investco - Paytm CEO Vijay Shekhar Sharma's investment vertical - also participated in the round.

Daalchini is an IoT-enabled 'phygital' (physical+digital) vending machine provider that serves over 100 start-ups, co-working spaces, large MNCs, hospitals, educational institutes, and residential complexes. It was founded in 2017 by former Paytm employees Prerna Kalra and Vidya Bhushan. It operates in over 20 Indian cities, has over 200 franchise partners, and sells over 160 brands through its platform.

Daalchini will now focus on expanding its industry footprint and expanding its technological capabilities following its recent funding round. It aims to be present in 10 million retail locations in India, with 450+ F&B D2C brands.  Daalchini has grown 300% in the last year, with a revenue of 12 crores in FY2022. It claims that more than 90% of its vending machines are EBITDA positive within 45 days.

Daalchini aims to clock ₹50 crores in revenues with a Gross Merchandise Value of ₹130 crores in 12 months. In the next 12-18 months, it intends to expand from 850+ to over 5,000 smart and autonomous retail points.

"The retail-tech segment in India is undergoing a massive transition from its traditional physical store form to a digital one, accelerated by the pandemic." "At this stage, Daalchini represents the best of both worlds, with a ubiquitous physical presence backed by a strong technological framework that prioritises the needs and convenience of its customers," stated “ Ruchi Pincha, Investment Associate, Unicorn India Ventures.

Daalchini has collaborated 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.