Milkbasket, a micro-delivery platform for groceries, today said it has secured a USD 3 million funding from Unilever Ventures, the investment arm of Unilever.
The pre-series A investment will be deployed to strengthen Milkbasket's technology, expanding assortment and customer base and monetising other streams of revenues, a statement said.
Founded in 2015, Milkbasket operates in Gurugram. Its current investors include Blume Ventures, Lenovo Capital, Empower Investment, Hofan Capital, Draphant and some angel investors.
"At present, Milkbasket is growing exponentially...Our vision is to become a strong player in online top-up groceries platform in India within the next five years," Milkbasket CEO Anant Goel said in a statement.
Olivier Garel, Head of Unilever Ventures, said Unilever Ventures aims to support some of the most disruptive emerging commerce models.
"Milkbasket's approach, leveraging Indian consumers habits and preferences, bringing convenience and attractive unit economics is definitely one of them," he added.
Unilever Ventures key focus areas include content creation, artificial intelligence, data analytics, e-commerce, internet of things, mobile marketing and video, in both developed and emerging markets.
Its existing investments include Clavis Insight, Percolate, Blis, Gousto, Instacart, Blow, Nutrafol, Sun Basket, Iluminage Beauty, Froosh, and Voltea.
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