CURRYiT, a cooking paste brand, has raised Rs 4.5 crore in a seed funding round co-led by RK Family Trust, Tangent Advisors, and Freeflow Ventures, with participation from angel investors Ramesh Damani and Ajaya Jain.
Why it matters: The fresh capital will be used to scale up operations, enhance brand marketing efforts, and strengthen distribution channels to cater to the growing Indian ready-to-cook and spices market, which is projected to grow at a CAGR of 15.7% from USD 9.81 billion in 2022 to USD 42.17 billion by 2032.
The details:
- CURRYiT, founded by IIM alumni Richa Sharma and Nischal Kandula, offers a range of cooking pastes including Kashmiri Rogan Josh, Butter Masala, biryani pastes, ginger garlic paste, tomato purees, and instant tadka.
- The company claims to serve over 25,000 pin codes daily and has witnessed more than 50% month-on-month growth on quick-commerce platforms.
- CURRYiT aims to quadruple its monthly revenue in the next six months with increased production capacity and distribution.
The startup boasts a world-class FDA and ISO-certified in-house manufacturing facility with over 40 quality checks in place, enabling faster product go-to-market while keeping costs low and benefiting from economies of scale.
What they’re saying:
- “Clean delicious food is not merely a USP for us; it is a choice we would like consumers to make for tastier and healthier home-cooked food,” stated founders Richa Sharma and Nischal Kandula.
- “With this recent funding, we will double down on our production and marketing efforts to make CURRYiT the go-to brand for every Indian’s daily cooking need,” they added.
CURRYiT’s existing investors include RPSG Capital Ventures, IIM Udaipur, and LBB.
What’s next: The company plans to use the raised capital to scale up operations, enhance brand marketing efforts, and strengthen its distribution channels to meet the growing demand in the Indian ready-to-cook and spices market.
Full story
CURRYiT, a cooking paste brand, has secured Rs 4.5 crore in a seed funding round. The round was co-led by RK Family Trust, Tangent Advisors, and Freeflow Ventures. Angel investors Ramesh Damani and Ajaya Jain also participated.
The Delhi-based startup plans to use the fresh funds to scale up operations and strengthen distribution channels. CURRYiT also aims to enhance its brand marketing efforts. Founded in 2020 by IIM alumni Richa Sharma and Nischal Kandula, CURRYiT offers a wide range of cooking pastes.
These include Kashmiri rogan josh, butter masala, biryani pastes, ginger garlic paste, tomato purees, and instant tadka. The company claims its products are free from chemicals, preservatives, dehydrated vegetables, and palm oil. “Clean delicious food is not merely a USP for us, it is a choice we would like consumers to make for tastier and healthier home-cooked food,” the founders said.
Scaling up with fresh funding
CURRYiT boasts a world-class FDA and ISO-certified in-house manufacturing facility. The facility has over 40 quality checks in place.
It allows the startup to bring products to market faster while keeping costs low. The company claims to serve more than 25,000 pincodes per day. It has witnessed over 50% month-on-month growth on quick commerce platforms.
CURRYiT aims to quadruple its monthly revenue in the next six months with increased production capacity and distribution. The Indian ready-to-cook and spices market is expected to grow at a CAGR of 15.7%. The market size is projected to reach $42.17 billion by 2032, up from $9.81 billion in 2022.
CURRYiT had previously raised $139K in a 2021 seed round. The round was co-led by RPSG Capital Ventures, IIM Udaipur, and other investors.
- Entrackr.”CURRYiT raises Rs 4.5 Cr in seed round”.
- IndianStartupNews.”CURRYiT raises Rs 4.5 crore in seed round to scale-up manufacturing & distribution”.
- BWDisrupt.”Curryit Bags Rs 4.5 Cr In Seed Round”.