Unilever Ventures is said to have made its first investment in an Indian start-up, according to a report published by The News Minute.
The Anglo-Dutch FMCG’s venture capital arm joins IDG ventures and Inventus Capital Partners in financing Mumbai-based Peel-Works in its latest funding round.
Founded in 2010 by a former Hindustan Unilever employee, Peel-Works provides software solutions to FMCG firms, helping them to manage their supply chain by tracking the movement of their products. Hindustan Unilever is among the start-up’s clients.
The latest round of funding will be piled into upgrading its platform as well as expanding its network of retailers.