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Reliance to acquire MilkBasket for more that $40 mn

  • Reliance is all set to acquire Gurugram-based firm that delivers groceries, milk and other every day essentials

  • MilkBasket has been looking for acquisition for the last 6 months

  • The talks have reached the final stage and both parties are going to close the deal soon

  • The size of the deal is in the range of $40-43 million

  • “MilkBasket’s Chief Executive Officer and co-founder Anant Goel will join Reliance whereas the other co-founders will move after the completion of the transaction

Anant Goel : Founder and CEO, MilkBasket
  • MilkBasket has raised $33 million in total risk capital from Inflection Point Ventures, Mayfield India, Unilever, Beenext, Blume Ventures, Kalaari, Lenovo Capital and a host of angels including several family offices. In the past, the company was also in talks with Amazon and BigBasket for acquisition.

Source : Entrackr

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