Danny Milham (co-founder of Koala) started a grocery delivery business - “Milkrun” with a seed round of $11m 7 months ago - in June 21.6 months later - he has raised a further $75 million series A round led by Tiger Global Management with AirTree Ventures, Skip Capital and Grok Ventures co-investing .
“It took us eight months to raise $100,000 at a $1 million valuation at Our last venture, Koala. In June it took us two weeks to raise $11 million to start the business in June - at a crazy valuation.
Being a second-time founder it’s a different world.” Says Danny
What Milkrun Does
Milkrun delivers groceries to you and currently operates in 35 suburbs around Sydney. It has created a network of warehouses (dark stores) , which stock up to 2000 grocery products and enable delivery riders on e-bikes to get groceries to customers in 10 minutes or less.
Since launching 6 months ago - it has
a team of 500 employed staff – and is hiring up to 40 new people every week . Danny tips to hit 1000 employees within a few months.
It’s a logistics business - and the systems needs to be smick!
The Christmas Covid Challenge
“It was the week of the 20th of December, everyone was getting PCR tests, sales went crazy and heaps of staff tested positive or were close contacts.
“We paid everyone $60 an hour to come in, there were many sleepless nights, I did about 1000 deliveries myself. We had to go to Coles and Woolworths to buy up hundreds of avocados.
The key to this business is outstanding Delivery and customer service !
The secret sauce in this game
It’s all about the people
“Whoever has the most riders will win this game. You need to control the supply and we employ our riders and plan to give them an outstanding employee experience…. They are the face of our business”
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