Unilever Ventures, the corporate venturing arm of consumer goods group Unilever, has injected $10m into venture capital firm IDG Ventures India’s fund, Inc42 reported on Thursday.
The money was invested over the course of this year, though further details have not emerged. IDG Ventures India will invest the capital in consumer technologies and digital startups.
Unilever Ventures and e-commerce and cloud computing firm Amazon’s Amazon Internet Services division, previously partnered IDG Ventures India in June 2017 to launch an accelerator program.
Dubbed IDG Ventures India 2017 Innovation Program, the accelerator is aimed at early-stage consumer technology, software, healthtech and fintech startups.
Unilever Ventures hopes its collaboration with IDG Ventures India will enable it to identify additional deals as it seeks to strengthen its foothold in the Indian market.