Consumer houseware startup Basil has raised Rs 3.6 crore in a seed funding round co-led by IIMA Ventures and Appreciate Capital. The round also saw participation from angel investors such as Mohit Sadaani, Koo co-founder Aprameya Radhakrishna, Abhishek Goyal, Malini Adapureddy and Magicpin co-founder Brij Bhushan.
The funds will be allocated towards bolstering its D2C play, expanding reach via e-commerce channels and product portfolio, Basil said in a press release.
Co-founded in 2023 by Harini Rajagopalan and Mahesh Muraleedharan, Basil is a direct-to-consumer startup offering tailored products that are particularly appealing to gen alpha and their millennial parents. Basil’s water bottles and Bento boxes represent a strategic response to a significant market gap that exists in the industry.
Basil aims to empower this space by infusing it with breakthrough designs based on market needs, premium materials, functional designs and aesthetic appeal. Its products are currently available pan-India on their D2C platform, as well as on marketplaces such as Amazon.
The Bengaluru-based company plans to expand its product categories launching lunch bags for kids and a newer range of bento boxes customised for working professionals in the next 12 months.
Basil competes with Rabitat, Vaya, Solara, Milton, and Cello, apart from the unbranded segment.
According to Datum Intelligence, the Indian consumer houseware market is set to cross ₹507 Billion by 2027.
