D2C Lunchbox Brand Basil Nets $2 Mn To Expand Product Portfolio

D2C lunchbox brand Basil has bagged $2 Mn (₹18.2 Cr) in a Pre-Series A funding round led by Prime Venture Partners, with participation from existing investors Appreciate Capital and IIMA Ventures.

The fresh capital will be used in expanding into new product categories such as bags and water bottles, while some funds will go into strengthening its supply chain, hiring and brand building initiatives, the startup said in a statement.

Founded in 2023 by husband-and-wife duo Mahesh Muraleedharan and Harini Rajagopalan, Basil makes aesthetically pleasing, innovative, high-quality kitchen and houseware products, with a special focus on bento boxes and water bottles.

Basil sells its products via its D2C website and online platforms like Amazon, Flipkart, Myntra and FirstCry. The brand claims to serve customers across 20,000+ pincodes in India.

“Since we went live, we’ve seen tremendous customer love, with over 1.5 lakh families pan-India using Basil today. As we expand into new categories, we expect to double our customer base in the next phase,” cofounder and CEO Rajagopalan said.

Competing with labels like Rabitat, Attro, FUNVERSE and ESnipe, Basil claims that it is currently clocking ₹36 Cr ARR and it is expecting to reach ₹100 Cr ARR in the next 12 months.

The D2C space in India has been booming with a number of new-age brands designing and selling niche products across categories to cater to the evolving needs of Indian consumers. With rising disposable incomes, popular global products have driven many D2C brands to establish themselves in the market with their unique offerings

In this light, the Indian D2C segment is projected to become a $300 Bn market opportunity by 2030. With the potential of the space, investors are also on a lookout to bet on D2C startups across categories.

For instance, D2C kids drinkware and foodware Rabitat secured ₹40 Cr in June last year, to foster partnership with Indian manufacturers and launch a new design range.

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