Basil, a consumer houseware startup, has raised INR 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 raised capital will be directed towards strengthening its direct-to-consumer (D2C) strategy, broadening its market presence through e-commerce channels, and diversifying its product offerings.
Founded in 2023 by Harini Rajagopalan and Mahesh Muraleedharan, Basil is a first-of-its-kind D2C startup aimed at reimagining the consumer houseware market in India, typically dominated by a handful of traditional players. The startup offers tailored products designed to specifically appeal to Generation Alpha and their millennial parents.
According to Datum Intelligence, the Indian consumer houseware market is set to cross INR 507 billion by 2027. Within the houseware market, categories such as lunchboxes, drinkware, storage containers and insulated products, contribute to 22 per cent of the overall market share. With the evolving lifestyle of Indians, high degree of urbanization, proliferation of nuclear families and technological advancement, India is witnessing a major shift in the houseware industry.
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Harini Rajagopalan, Co-Founder of Basil said, “Our mission is to disrupt this overlooked space, infusing it with breakthrough designs based on market needs, premium materials, functional designs and aesthetic appeal. With our launch product range, we aim to emerge as the preferred choice for Indian parents seeking the best for their children and at the same time, be seen as a fun, cool, engaging & aspirational brand for kids.”
Basil seeks to revolutionize this sector by introducing innovative designs tailored to market demands, utilizing high-quality materials, functional yet stylish designs, and aesthetic appeal. Its products are accessible nationwide through their direct-to-consumer (D2C) platform and prominent online marketplaces like Amazon.
Over the next 12 months, the Bengaluru-based company aims to diversify its product offerings by launching lunch bags for kids and introducing a new range of bento boxes tailored for working professionals.
Basil competes with companies like Rabitat, Vaya, Solara, Milton, and Cello, as well as the unbranded segment.
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