Gurugram-based micro-delivery startup Baxi-Fresh has raised Rs 2 crore in a bridge-round from existing investors including Indifi Technologies founder Alok Mittal, UK-based angel investor Nitin Singhal and Shiksha Infotech founder Mahendra Pratap.
The company plans to use the funds raised to expand and launch its delivery services in 200 residential neighbourhoods in Gurugram and New Delhi region by July this year.
Baxi-Fresh started off as a bike taxi service Baxi in 2015. However, the service was shut down in mid-2017, due to a combination of unviable unit economics, lack of consumer demand and an uncertain regulatory environment and the company pivoted to a hyper-local delivery model last year.
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