Gurugram, January 23, 2018: Milkbasket, a micro delivery platform for groceries, has announced today that it has secured a $3m investment in a Pre-Series A Round. Unilever Ventures, the venture capital and private equity arm of Unilever has also participated in the round.
Founded in 2015, Milkbasket operating in the city of Gurugram is a micro-delivery service with an innovative top-up model. The company started with catering for the unique Indian habit of getting fresh milk delivered at home every morning, and today has grown to become one of the leading grocery delivery platform in Gurugram. Designed to provide extreme convenience, MilkBasket can fulfil orders received from its customers on a wide selection of grocery products before midnight and get these delivered to their doorstep before 7:00am every day. To enable frequent and frictionless buying, Milkbasket has introduced flexi ordering and contactless delivery – both a first in the ecommerce industry – and favourites of Milkbasket customers.
Announcing the association, Anant Goel, CEO of Milkbasket, said “We have always believed that Milkbasket’ s unique model will find its play in the large online grocery market. The endorsement from Unilever Ventures is an important mark of confidence in our potential. 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,” Anant added
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.”
This investment and Unilever’s expertise will be deployed to strengthen technology at the back end as well as front end, expanding their assortment & customer base and monetising other streams of revenues.
About Unilever Ventures
Unilever Ventures is the venture capital and private equity arm of Unilever. They invest in early stage, promising companies, accelerating growth by providing access to Unilever’s global ecosystem, assets and expertise. The fund looks to invest in tomorrow’s world-beaters in Personal Care and Digital Transformation. Key focus areas within Digital Transformation include content creation, artificial intelligence, data analytics, e-commerce, internet of things, mobile marketing and video, in both developed and emerging markets. Unilever Venture’s existing investments include notably Clavis Insight, Percolate, Blis, Gousto, Instacart, Blow, Nutrafol, Sun Basket, Iluminage Beauty, Froosh, and Voltea. For further information, please visit: www.unileverventures.com
Milkbasket operating in the city of Gurugram is a micro-delivery service with an innovative top-up model. The company started with catering for the unique Indian habit of getting fresh milk delivered at home every morning, and today has grown to become one of the leading grocery delivery platform in Gurugram
Milkbasket’s current investors include BLUME Ventures, Lenovo Capital (LCIH), Empower Investment, Hofan Capital, Draphant, and angel investors including Peter Zou (CEO, YeahMobi), Vinay Bansal (ex-CFO, Wildcraft), Vikas Chauhan of 1MG, Deepak Jain of Bain & Co and select Milkbasket customers