Milkbasket raises $10.5 mn from Unilever Ventures, others

Grocery delivery startup Milkbasket on Tuesday said it has raised an additional USD 10.5 million (approx ₹ 69.20 crore) in its latest round of funding led by Unilever Ventures, with participation from Mayfield India, Kalaari Capital, and Blume Ventures and few Indian family offices.

“While the industry is witnessing a number of players adopting our model, this funding – our largest fund infusion till date – is a testament to our robust execution, the team and continued trust of our investors in the growth of Milkbasket,” Milkbasket Co-founder and CEO Anant Goel said in a statement.

Milkbasket said more than 70 per cent of its revenue comes from non-milk products, from the wide assortment of over 8,500 stock keeping units, and it has launched its services in four cities across India within the last six-seven months.