your password has been reset successfully, Please login again.

Grocery delivery startup Milkbasket raise $3 million funding from Unilever Ventures

Grocery delivery startup Milkbasket raise $3 million funding from Unilever Ventures which is the investment firm of Unilever.
BY BEx Bureau
Jan 24, 2018

Indian e-grocery market is expected to grow at a rate of 26 per cent in the timeframe of 2015-2019, as per technavios research report. In this market, the recent development is that a micro-delivery grocery startup has raised $3 million funding from venture fund Unilever Ventures.

In 2015, Gurugram-based startup Milkbasket, owned and operated by AAIDEA Solutions was founded by Anant Goel,Ashish Goel,Anurag Jain andYatish Talvadia. The startup delivers daily need grocery items like bread, milk, eggs, butter, etc at the doorstep of the customer without any extra charge of delivery. The startup plans to use the raised capital to improve its technology, expand customer base and also monetise other streams of revenue, said a statement.

"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 Goel, CEO of Milkbasket.

Olivier Garel, Head of Unilever Ventures, said: "Milkbasket's approach, leveraging Indian consumer habits and preferences, bringing convenience and attractive unit economics is definitely one of them."

He also stated that the venture fund aims to support some of the most disruptive emerging commerce models.

In 2017, Milkbasket also raised funding in pre-series A round of funding led by Blume Ventures, Lenovo Capital and Incubator Group (LCIG). In 2016, the startup has also secured $500,000 funding in a round led by EVC Ventures, Zhu Dao Investments, and angel investors like Peter Zou, Peesh Chopra, Vikas Banga and Manav Kamboj also took part in the funding round.

In 2017, other grocery delivery startups like DailyNinja, MrNeeds, Town Essentials and RainCan has also raised seed funding.

Please add your Comment
June 13, 2018
The fund plans to invest in seven to eight startups this year ...More
By Sanjana Surbhi
June 01, 2018
Sequoia India, which first invested in Pine Labs in 2009, remains the company’s largest shareholder ...More
By Sanjana Surbhi
June 01, 2018
Maiya initially raised funds from Ascent Capital and later from Peepul Capital ...More
By Sanjana Surbhi
May 28, 2018
Angel investors will have to fulfil some prescribed criteria ...More
By Sanjana Surbhi
May 25, 2018
This was not the first time when Uber made profit quarterly ...More
By Sanjana Surbhi
April 12, 2018
New Delhi-based startup Chariot has raised Rs.2 crore funding from GEMS Partners. ...More
By Ritu Marya
April 10, 2018
Yumlane's parent company QwikPik secures Rs.26 crore funding from RB Investments and its existing in ...More
By Ritu Marya
April 05, 2018
Digital lending startup Namaste Credit secures $3.8 million funding from Nexus Venture Partners. ...More
By Ritu Marya
April 03, 2018
MoveInSync secures $8 million funding in Series B round led by Nexus Venture Partners. ...More
By Ritu Marya
March 31, 2018
Nandan Nilekani and Sanjeev Aggarwal venture capital fund Fundamentum secures $20 million funding fr ...More
By Ritu Marya
March 30, 2018
Google makes its second direct investment in Mumbai-based fashion e-commerce platform Fynd. ...More
By Ritu Marya
March 28, 2018
Delhi-based workforce management startup Roadcast secures $250,000 in an angel funding round. ...More
By Ritu Marya