Investment arm of Hindustan Unilever, Unilever Ventures has put Rs 65 crore ($10 million) into the IDG Ventures India Fund during the year, demonstrating its intent to bankroll consumer-technology, innovation and digital startups.
The company helps early and growth-stage startups receive equity investment and operational support from Unilever.
Spokesperson of Hindustan Unilever said, “Unilever Ventures is evaluating startups as part of the Innovation Programme and even otherwise for direct investments.”
In June, IDG Ventures India had announced a partnership with Unilever Ventures and Amazon Internet Services to jointly invest in startups in consumer technology, software, health-technology and financial-technology businesses. HUL has always been talking about becoming more agile, Unilever Foundry creates opportunities for its people to engage with pioneering entrepreneurs.