Anant Goel (Handpickd): 10 Key Things You Must Know

Overview

Anant Goel is a prominent entrepreneur with a keen interest in the field of technology-driven consumer goods. Best known as the co-founder of Milkbasket, an innovative grocery delivery service, Goel has continued to influence the Indian startup ecosystem with ventures like Handpickd. His journey from Milkbasket to Handpickd reveals a saga of innovation, strategic pivots, and successful integrations. This article explores the fascinating details behind Goel's entrepreneurial ventures, shedding light on his achievements and the strategic decisions that have shaped his career path.

1. Milkbasket - A Revolutionary Start

Anant Goel first gained widespread attention with Milkbasket, a venture launched in 2015 along with Ashish Goel, Anurag Jain, and Yatish Talvadia. Milkbasket was conceived as India's first micro-delivery service focusing on daily essentials like milk and groceries. The service offered convenience with overnight delivery, meeting the needs of busy households. Milkbasket's unique model quickly attracted attention, leading to its acquisition by Reliance Retail in October 2021.

2. The Sale to Reliance

In 2021, Milkbasket was acquired by Reliance Retail for approximately $40 million. This acquisition was part of Reliance's broader strategy to enhance its digital commerce offerings through JioMart. The integration allowed Milkbasket to expand its services to 30 cities, utilizing Reliance's vast network and resources. The deal underscored the value and potential of Milkbasket's business model in the competitive grocery delivery sector.

3. Anant Goel Milkbasket's Strategic Exit

Anant Goel made the strategic decision to step down from Milkbasket after its acquisition. This shift allowed him to pivot towards new opportunities, leveraging his experience and insights gained from growing Milkbasket into a leading player in the daily essentials segment. His departure marked a new chapter, focusing on ventures that could harness technology and consumer data more effectively.

4. Sorted Anant Goel: The Genesis of a New Venture

Post-Milkbasket, Goel co-founded Sorted, an innovative omnichannel platform for fruits and vegetables, with co-founders Nitin Gupta and Sahil Madan. Sorted aimed to solve existing inefficiencies within supply chains, offering a seamless connection between farmers and consumers through digitally-enabled mom-and-pop stores. In 2023, Sorted raised over $5 million in seed funding, paving the way for further growth and development.

5. Pivot from Sorted to Handpickd

Recognizing the potential for enhanced consumer experiences using technology, Goel transitioned Sorted into Handpickd. The rebranded venture leverages AI to customize the shopping experience for fresh produce, offering personalized recommendations to consumers. This pivot highlights Goel's adaptability and commitment to innovation in consumer services.

6. Handpickd's Innovative Model

Handpickd operates a zero-inventory, technology-driven model, sourcing fresh fruits and vegetables directly from farmers. This approach reduces waste and ensures freshness, delivering produce based on individual family preferences. By focusing on customized fresh produce delivery, Handpickd meets specific consumer needs that traditional grocery models struggle to address.

7. Handpickd's Expansion and Growth

Under Goel's leadership, Handpickd has achieved significant milestones, including turning EBITDA positive in Gurugram and expanding into new markets such as Bengaluru. The company continues to scale its operations, aiming to establish a presence in 30 new micro-markets by the end of 2025. This expansion reflects Handpickd's successful market penetration and Goel's effective strategic planning.

8. Milkbasket's Market Integration

Milkbasket's integration into Reliance's ecosystem has given the venture an expanded operational footprint, contributing to its enhanced market share in the next-day delivery segment. The partnership has allowed Milkbasket to access Reliance's large-format retail stores and broaden its services, illustrating the synergistic benefits of the acquisition.

9. Anant Goel's Role at Riverwood Capital

In addition to his entrepreneurial pursuits, Anant Goel has also been associated with Riverwood Capital, bringing his expertise in private equity and investment analysis. His experience at Everstone Capital and educational background from Wharton School have enriched his strategic insight, benefiting his ventures in consumer technology and retail.

10. Future Prospects for Handpickd

Looking ahead, Handpickd is poised for continued growth, with plans to enhance its AI capabilities and further refine its supply chain management. The focus remains on expanding its presence across urban Indian markets, leveraging technology to cater to evolving consumer preferences in fresh produce shopping.

Conclusion

Anant Goel's entrepreneurial journey from Milkbasket to Handpickd exemplifies innovation and strategic foresight in the evolving landscape of consumer services. His ventures illustrate a commitment to enhancing consumer experiences through technology and sustainable practices. As Goel continues to drive Handpickd forward, his work reflects the potential for technology-led solutions to redefine traditional market segments, offering valuable insights for aspiring entrepreneurs.