Tuesday, January 23, 2018

Online Micro-Delivery Platform MilkBasket Secures Financing from Unilever Ventures

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 midnightand 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. 

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