Private Equity Liquidity Events
Reliance Retail acquires 96.5 % stake in grocery platform Milkbasket
Source Inc42 (opens in a new tab)
Reliance Retail Ventures Ltd, a subsidiary of Mumbai-based, publicly listed Reliance Industries Ltd (RIL), has completed the acquisition of a 96.49% stake in Gurugram-based online grocery platform Milkbasket. The deal size is pegged at USD 40 million.
Founded in 2015, Milkbasket caters to household grocery needs in fruits & vegetables, dairy, bakery and more. Prior to the acquisition, the startup had raised USD 38.5 million across 11 funding rounds.
Company website ↗ (opens in a new tab)
Between Fab-16 and Mar-20, Milkbasket had raised funding from Unilever Ventures, Beenext, Blume Ventures, Mayfield, Kalaari Capital, Lenovo Capital and Peesh VC. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)