ETtech Exclusive: How Kalaari’s exit led to the fall of Milkbasket

Bengaluru: Venture investor Kalaari Capital’s sale of its entire stake in hyperlocal grocery delivery service Milkbasket to the Mahendra Nahata-led MN Televentures is being hotly contested by the Gurgaon-based company, in a latest instance of discord between a startup and its early investor. Nahata is managing director of Himachal Futuristic Communications Ltd.

The stake sale by Vani Kola-led Kalaari, sealed in July-August, met with stiff resistance from Milkbasket’s board, people aware of developments told ET, for weakening the startup’s ability to find potential new investors or buyers.