Myntra Co-Founders Back AgriTech Startup DayBox

Delhi-based agritech startup, DayBox, has raised $104K in funding from Ashutosh Lawania (co-founder, Myntra), Rajul Jain (SVP Supply Chain, Myntra and co-founder, Yebhi.com), Badal Malick (ex-VP Omnichannel, SnapDeal), Rishi Gupta (CEO, Fino Paytech Ltd) and six other angel investors, reports Inc42.

Founded in 2016, DayBox is a tech based B2B startup that fulfills the daily requirement of fresh fruit and vegetables of F&B and retail establishments. Started by IIT Delhi alumni Ankush Goyal, Raman Kumar and Ashish Bibyan, DayBox lists Grofers, Route04, Sattviko and others as its customers. The startup will be using the new funds to fine-tune its tech product and to hire more people and add to the team.

The company was founded with the aim of solving the inefficiencies of the fruits and vegetables supply chain in India, by leveraging the power of the internet. The company is now a wholesaler supplying fruits and vegetables to the businesses like restaurants who buy them in bulk on a daily basis.

In the exclusive report by Inc42, Ashutosh Lawania said, “I am bullish about the use of technology to disrupt India’s inefficient agri supply chain. Ankush and his team are a passionate bunch of individuals with the right expertise for the task at hand. The rate at which they have implemented technology to streamline supply chain operations is really impressive. I am sure that they will create a very valuable company and impact the lives of millions working in agriculture sector.”

DayBox co-founder Ankush spoke with Inc42 about the journey so far and said, “Our revenues are growing at 100% on a quarter over quarter basis, but the key achievement of DayBox lies in the adoption of its technology by the buyers and suppliers of fruits and vegetables. Our product has evolved to a stage where we are managing, tracking and improving the entire day-to-day operations via our tech platforms.”

While other startups are suffering losses and business, the grocery e-tailers seem to be doing very well for themselves. Earlier this month Lemon Leaf raised $133K in their first round of external funding, while Delhi-based Vegfru raised an undisclosed amount of funding from Wingify.