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Bangalore based Consumer Houseware startup, Basil raises INR 3.6 crore seed funding from IIMA Ventures and Appreciate Capital

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  • Basil aims to reimagine homeware & kitchenware for Millennials and Gen Alpha
  • Launches food storage and hydration categories with its range of Bento Boxes and Bottles targeting urban parents.
  • To utilize the funds to bolster its direct-to-consumer (D2C) play, expand reach via e-commerce channels and expand product portfolio.

Bangalore-based, Consumer Houseware startup, Basil today announced that it has raised INR 3.6 crore seed funding co-led by IIMA Ventures (formerly IIMA-CIIE) and Appreciate Capital. The round also saw participation from prominent angel investors such as Mohit Sadaani (Co-Founder, The Moms Co.), Aprameya Radhakrishna (Co-Founder, Koo), Abhishek Goyal (Co-Founder, Tracxn), Malini Adapureddy (Founder, Deconstruct) and Brij Bhushan (Co-Founder, Magicpin). In its first phase of scale, Basil has launched stainless steel bento boxes and bottles catering to the sensibilities of millennial parents and Gen Alpha. The funds raised will be used to bolster its D2C play, expand reach via e-commerce channels and expand product portfolio.

According to Datum Intelligence, the Indian Consumer Houseware Market is set to cross ₹507 Billion by 2027. Within the Houseware market, categories such as lunchboxes, drinkware, storage containers and insulated products, contribute to 22% 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. This is especially evident for young working couples and parents in the urban setting. This lifestyle evolution offers a massive white space for Basil to bring product differentiation and tap into the changing needs of its target consumers.

Founded by Harini Rajagopalan (Ex Amazon, Flipkart group) and Mahesh Muraleedharan (launched Uber in India as their first employee) in 2023, Basil is a first-of-its kind D2C startup aiming to reimagine the consumer houseware market in India that is typically dominated by a handful of traditional players. The firm’s range of products aims to cut away from the product designs that currently exist in the market. It offers consumers distinct, high-quality, visually appealing, and 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.

Announcing the fund raise, Harini Rajagopalan, Co-founder of Basil said “In an era dominated by contemporary brands, the home and kitchen sector remains surprisingly resistant to innovation, still dominated by entrenched incumbents. As parents ourselves, we realised there is a definite need for innovation and design in this category, validated by our on ground research of talking to over 900 parents. Products that are currently in the market are a sea of sameness, with minimal overlap across functional design, aesthetics as well as safety. 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 of stainless steel leak proof bentos and water bottles, 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.”

With this round of funding, Basil will deploy 30% of the capital into R&D to develop a nuanced view of market requirements, product design iterations so that they can clear the clutter to launch sought-after products. Basil’s products are currently available pan-India on their D2C platform s well as on marketplaces such as Amazon. In the next 12 months, it will expand its product categories launching lunch bags for kids and a newer range of bento boxes customized for working professionals.

“Driven by urbanization and premiumization, the Indian home and kitchen market is witnessing a surge in online demand for branded products. As kitchens become central features of homes, Basil, led by Harini and Mahesh, is strategically positioned to innovate and tap into this trend. We are thrilled to co-lead Basil’s seed round, confident their modern approach will resonate with the preferences of the Indian audience.” – Vipul Patel (Partner, Seed Investing at IIMA Ventures).

“The kitchen and home sector has seen minimal innovation for over a decade. The Indian consumer, actively seeking both functionality and aesthetics, is no longer served by incumbent and traditional brands. This is the massive opportunity we believe Harini and Mahesh are a great team to build for. We are delighted to partner with them and co-lead the round from Appreciate Capital.” – Sairee Chahal & Abhishek Agarwal (Partners, Appreciate Capital).

About Harini Rajagopalan – Cofounder, Basil

Harini has over a decade of experience in the consumer internet space with stints at eCommerce giants such as Amazon and Flipkart. At Amazon, Harini led the product and marketing efforts for Amazon Deals, focusing on personalization and orchestrating large-scale events like the Great Indian Festival. While at Flipkart, she spearheaded the launch of multiple categories, from ebooks to large appliances, showcasing her expertise in product management, brand management, and business leadership. Harini began her career at Johnson and Johnson, where she pioneered initiatives like the Clean & Clear Times Fresh Face and contributed to launching the Clean & Clear fairness portfolio in India. Harini is an alumna of INSEAD.

About Mahesh Muraleedharan – Cofounder, Basil

With over a decade of experience, Mahesh Muraleedharan, comes with a diverse background encompassing experiences in Indian e-commerce, ridesharing, VC investing, and management consulting, He has been instrumental in launching and scaling early-stage operations for high-growth startups, including three unicorns—Uber, Rapyd, and OYO. Mahesh was the first hire for Uber in India, where he played a pivotal role in overseeing the company’s launch and exponential growth to one million trips per day. His leadership extends to navigating complex legal, regulatory, and technological landscapes, demonstrated by his contributions to setting up multiple core businesses from scratch. Mahesh is an alumnus of IIM Ahmedabad.

About IIMA Ventures

IIMA Ventures spearheads entrepreneurship-led activities at and beyond IIM Ahmedabad. It studies, educates, incubates, accelerates and invests in early-stage technology startups. Over its history, IIMA Ventures has mentored over 5000 entrepreneurs, accelerated over 2000 startups and invested in 350+ companies at seed stage and 40+ companies at early growth stage, securing more than 40 profitable exits. IIMA Ventures’ consumer investments include Jollee (children’s wear), Heelium (activewear), Bombay Hemp Company (wellness), Qlan, Mech Mocha, Rolocule and Hashcube (gaming).

About Appreciate Capital 

Appreciate Capital is a gender smart, world positive companies focussed pre-seed / seed fund founded by Abhishek Agarwal and Sairee Chahal. Investor in companies like Basil, Aulerth, Teleport, Samosa Party – among others, Appreciate brings to its portfolio founders – deep building/ operating experience to the table along with its extensive network in India and globally. Over fifty percent of Appreciate cheques go to women founders / women markets.

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Mappable launches Neurogeocoder API to revolutionize mapping solutions for UAE businesses

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Mappable

Mappable, a global company that brings powerful and highly customizable mapping solutions to the local markets, announces the launch of its new product — the Neurogeocoder API, which is now available to all clients in the UAE.

The Neurogeocoder API, powered by machine learning and AI, is a game-changer in geospatial solutions, particularly in light of the projected 14.2% CAGR growth of the global digital map market by 2030. Unlike standard geocoders with fixed algorithms set by the development team, Neurogeocoder’s adaptive nature ensures precise results, even with unstructured location queries containing errors or typos. This advanced tool allows for the seamless display of user-entered addresses on maps and facilitates the transformation of map points into detailed street addresses, ensuring precise and reliable location results. By recognizing local expressions for districts, towers, and roads, the Neurogeocoder effectively links them to specific addresses or points, a feat beyond the capabilities of standard geocoders.

The Neurogeocoder API is a powerful tool for various industries, including e-commerce, real estate, food-tech, ride-tech, and logistics. It helps quickly translate large address volumes into coordinates and vice versa, as well as process intricate or locally specific location queries for different business scenarios. For e-commerce, the Neurogeocoder can enhance customer service by displaying pickup points on maps, allowing users to choose the most convenient location when placing orders. For real estate companies, the tool can accurately showcase property locations, helping potential buyers visualize the surroundings to make informed decisions when considering a purchase. For logistics services, the API optimizes operations by providing accurate addresses to managers for better cost estimation of deliveries, leading to increased operational efficiency and cost savings for the business.

In addition to the Neurogeocoder API, Mappable offers a comprehensive suite of solutions tailored to multiple business needs:

  • Performative, customizable, and data-rich maps for clients’ websites, apps, or CRM.
  • Automatic geo verification and easy search by address, coordinates, and other parameters.
  • Navigation and route planning tools that take into account traffic and weather forecasts as well as other parameters, to help drivers, couriers, and other professionals efficiently move around the country.

“The UAE is rapidly progressing in the fields of technology, e-commerce, and smart mobility and we’re excited to support businesses on this journey. Mappable solutions allow companies to optimize logistics and enhance customer service quality by automating processes and reducing workloads on internal personnel, call centers and order-processing specialists. We know what local businesses need and are constantly updating our products, using machine learning and AI to give our clients the best possible mapping solutions. The newly launched Neurogeocoder is a great example of this. It understands our address-inputting habits and adapts to them”, explained Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable.

Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable

All Mappable solutions provide extensive customization opportunities, and a wide range of licensing choices. The company has also launched an online self-service desk, which gives easy and fast access to its APIs — for trial or license purchase. More information can be found at mappable.world.

About Mappable:

Mappable is a global mapping and geospatial solutions provider based in the UAE, offering powerful and customizable business solutions to local markets. With a focus on innovation and precision, Mappable provides cutting-edge mapping, geospatial, and navigation technologies to meet the diverse business needs of e-commerce platforms, retail chains, logistics and delivery firms, manufacturing enterprises, ride-tech and food-tech companies, telecommunications corporations, banks, as well as the public sector.

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Yango showcases latest innovations to transform urban transport at Mobility Live ME

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Abu Dhabi, UAE, Yango, an international tech company, made a significant impact as the Silver Sponsor at Mobility Live ME, the region’s most crucial event focusing on disruptive technology in mobility. Being committed to leveraging the power of technology to improve its users’ lives, Yango showcased its latest products and innovations and presented insights tailored to the MENA region’s evolving demands.

Building on its reputation for unique service offerings, the company recently launched Yango Drive, a comprehensive car rental marketplace integrated within the Yango SuperApp that is gaining substantial traction in Dubai. It features a digital booking system that offers an array of 3,500 cars, providing a seamless, high-quality rental experience from booking to return. This service reflects Yango’s commitment to comfort, convenience, and sustainability, supporting the shift towards shared mobility and aligning with the UAE’s Net Zero 2050 and Dubai Urban Plan 2040 initiatives.

Furthermore, in alignment with its dedication to enriching local communities, the ‘Prayer Mode’ for Muslim drivers was recently launched during the holy month of Ramadan. This feature facilitates drivers’ adherence to prayer schedules and includes innovative mapping and smart routing technologies to locate the nearest mosques. The app also mutes notifications during prayer times and provides directions to the Qibla, ensuring drivers can seamlessly balance their professional responsibilities with their religious practices.

Islam Abdul Karim, General Manager, Yango GCC, said: “We have seen great demand for our services since our entry into the market and are dedicated to developing a safe and comfortable urban transport system to keep up with this demand. With technology at the heart of our mission, we are not just responding to the current status but are actively shaping the future of mobility with innovative solutions and features. We will continue to set new standards in the industry, contributing to creating smart, sustainable cities.”

Islam spoke in a panel discussion at Mobility Live: “Movers and Shapers: Shining a Spotlight on the Game-Changers in Modern Transport Systems.” Shashi Shekhar Singh, Director of New Markets at Yango, delivered a keynote speech on the “Future of Mobility,” delving into how the company redefines urban mobility.

The company’s commitment to innovation is reflected in its diverse range of services, including Yango Maps, Yango ride-hailing service, Yango Play, Yango Tech, the advanced Arabic human-like AI voice assistant Yasmina, and many more, all of which are designed to enhance the everyday lives of local communities. As one of the leading apps in the region, the company is committed to supporting local transport providers, creating jobs, and fostering long-term partnerships with local communities and governments.

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Trident IoT Launches Taurus Z-Wave Series Silicon

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Chip series and SDK support next-generation Z-Wave capabilities for the global market.

Trident IoT, an RF technology and engineering company focused on decreasing time-to-market for connected device manufacturers, today announced the release of the new Taurus Z-Wave Series of silicon solutions.

The Trident IoT Taurus Z-Wave Series will encompass system-on-chip (SoC) solutions and modules that support the latest advancements in Z-Wave technology, including Z-Wave Long Range (ZWLR) for the U.S. and the implementation of the ZWLR European specification. The Taurus Z-Wave Series will ship with an SDK based on Open Z-Wave Specification Release 2024A.

“The Taurus Series gives global manufacturers access to cutting-edge Z-Wave capabilities,” said Trident IoT co-founder Bill Scheffler. “This silicon series and SDK will be the first to implement the ZWLR European specification, accelerating IoT product development worldwide.”

Taurus Series Silicon Specifications
The Taurus Series is based on an ultra-low power, high performance Z-Wave SoC. The Taurus SoC solution is designed to enable Z-Wave solutions with class-leading battery life, range, and memory.

Taurus Series chips feature an ARM® Cortex®-M33 microprocessor, 1MB of flash program memory, and 288KB of SRAM data memory for exceptional processing and response time. The powerful sub-GHz radios transmit at +20dBm and +14 dBm, enabling communication over distances up to 1+ miles.

Taurus chips support Z-Wave Plus, Z-Wave Plus v2 and ZWLR, enabling the development of highly secure, reliable, scalable, and backwards-compatible solutions for smart home, hospitality, multi-dwelling units and more. Using the ZWLR 12-bit addressing space, the Taurus Series supports networks of up to 4000 nodes; Taurus chips also leverage ZWLR dynamic power control, enabling end point battery life of up to ten years from a single coin-cell battery.

“ZWLR is a revolutionary technology, with the power to expand the reach, scale and utility of IoT applications while preserving full backward compatibility with currently deployed Z-Wave devices,” said Avi Rosenthal, Z-Wave Alliance Chairman of the Board. “This new Z-Wave silicon offering, paired with the Trident IoT SDK and design services, will enable more Z-Wave Alliance members to take advantage of ZWLR capabilities, bringing exciting new products to market faster around the globe.”

End-to-End Product Development Support
In line with the company’s mission to decrease time-to-market for IoT devices, Trident IoT will offer end-to-end engineering consultation for new products integrating Taurus Series silicon. In addition to the Taurus Series SDK, Trident IoT customers will also have access to an exclusive library of both Z-Wave and ZWLR device and sensor reference designs, created to accelerate the development of innovative new edge-of-property applications.

Trident IoT also offers in-depth consulting from some of the industry’s foremost experts on wireless connectivity, including Z-Wave technology. “Trident IoT was launched in response to a gap in the availability of IoT product design services,” says Mariusz Malkowski, Trident IoT CTO and founder. “The demand for consultation has been extraordinary: in just six months we’ve had to double our engineering resources.”

To support the development of market-ready products, the Trident IoT lab is fully equipped and available for Z-Wave, Z-Wave Plus v2, and ZWLR end product compliance and testing.

By providing silicon, design services, and in-house compliance testing, Trident IoT can help device manufacturers decrease time-to-market for new Z-Wave products by more than 60%. According to Kevin Kraus, VP of Technology Alliances and IoT Business Development, Yale – Fortune Brands Innovation, “In-depth consulting services from the Trident IoT team will be an invaluable accelerator for Fortune Brands, helping us to bring new Z-Wave-certified products to market in the near future. With the launch of this new single-die silicon solution, we look forward to collaborating on new devices with next-generation capabilities, including long-range and potentially even multi-protocol devices.”

Taurus Series Previews for Product Developers
Taurus Series silicon will begin shipping at scale in Q4 2024. In the meantime, Trident IoT will issue Taurus Series samples to select partners for initial testing and product development.

About Trident IoT:
Trident IoT is a technology and engineering company focused on simplifying RF development, increasing product success rates, and decreasing time-to-market for connected device manufacturers. Founded by a team of IoT veterans with over a century of industry knowledge, Trident IoT is aimed at making connected devices work as intended. With an initial focus on companies manufacturing Z-Wave devices, Trident IoT seeks to expand and build new relationships through a human connection at every level, including certification and market knowledge. 

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