Milkbasket raises $3 million in Pre-Series A funding from Unilever Ventures

Gurugram-based online grocery startup, Milkbasket has raised $3 million in its new Pre-Series A funding round from Unilever Ventures.

The newly raised funding will be used to strengthen its technology as well as in expanding their assortment and customer base, the company said in a statement.

Milkbasket raises  million in Pre-Series A funding from Unilever Ventures

Commenting on funding announcement, Anant Goel, CEO of Milkbasket, said, “At present, Milkbasket is growing exponentially and has become a popular brand in the city of Gurugram. Our vision is to become a strong player in online top-up groceries platform in India within the next five years, and we strongly believe that this is an important milestone in our journey.”

Milkbasket was founded in 2015, by Anant Goel, Ashish Goel, Anurag Jain, and YatishTalvadia. The company started with catering for the unique Indian habit of getting fresh milk delivered at home every morning, and today claims to be one of the leading grocery delivery platforms in Gurugram.

Designed to provide extreme convenience, MilkBasket claims to fulfil orders received from its customers on a wide selection of grocery products before midnight and get these delivered to their doorstep before 7:00 am every day.In order to enable frequent and frictionless buying, the startup has also introduced flexi-ordering and contactless delivery options on its platform.

Olivier Garel, Head of Unilever Ventures said, “Unilever Ventures aims to support some of the most disruptive emerging commerce models and Milkbasket’s approach, leveraging Indian consumers habits and preferences, bringing convenience and attractive unit economics is definitely one of them.”

Unilever Ventures primarily invests in an early stage startup belonging to personal care and digital transformation. Some of the investment include Clavis Insight, Percolate, Blis, Gousto, Instacart, Blow, Nutrafol, Sun Basket, Iluminage Beauty, Froosh, and Voltea.

Last year, Milkbasket had raised an undisclosed amount from Blume Ventures. Prior to that, in 2016, the startup had secured investment from Hofan Capital and Draphant along with the participation from a few customers. In the same year, the startup had raised $500K led by EVC and a group of Chinese investors.