Basil Raises $2 Million for Kids Essentials Platform Growth

Online multi-category kids essentials platform Basil has successfully raised $2 million during a pre-Series A funding round, which was primarily led by Prime Venture Partners. The funding round also saw participation from existing investors, including Appreciate Capital and IIMA Ventures.

This recent funding follows a two-year interval since Basil’s last funding event, where the company raised Rs 3.6 crore in a seed funding round co-led by IIMA Ventures and Appreciate Capital back in February 2024. The newly acquired funds will be allocated towards the expansion into additional categories such as bags and water bottles, enhancing its supply chain, and recruiting new talent for leadership and product teams. Basil aims for an annual recurring revenue (ARR) of Rs 100 crore by FY27.

About Basil and Its Growth Journey

Founded in 2024 by Harini Rajagopalan and Mahesh Muraleedharan, Basil operates as an online platform dedicated to kids essentials. Initially, Basil focused on bento lunch boxes and insulated food jars but has since expanded its offerings, now serving over 1.5 lakh families across more than 20,000 pincodes in India.

Current Financial Metrics and Model

The firm currently boasts an ARR of Rs 36 crore, marking a five-fold growth just two years post-launch. Basil adheres to an asset-light model, collaborating with manufacturing partners located in India, China, and Southeast Asia. The company also runs an in-house Consumer Lab that focuses on product design rooted in parent feedback, and holds several industrial design patents.