WickedGud, a direct-to-consumer (D2C) food products brand co-founded by Bhuman Dani has raised ₹20 crore in a funding round led by Orios Venture Partners. The round also saw participation from Asiana Fund and several existing investors, underscoring the growing interest in health-focused food brands in India.
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The funding now comes hot on the heels of WickedGud’s successful funding earlier in June 2023, when the company secured $250,000 in growth funding led by GetVantage. The brand has also attracted some big names in investment firms, such as Titan Capital, Mumbai Angels, and NB Ventures. All these indicate the continuous flow of capital into the brand and its promising trajectory within the competitive food market.
WickedGud seeks to “unjunk” India through healthy yet indulgent food products. The company takes pride in using wholesome ingredients and innovative manufacturing techniques, especially SCAD, Steaming and Convection Air Drying technology, to preserve the nutritional value of its ingredients while providing a delightful taste to satisfy the health-conscious consumers.
The funds from the latest round of funding will be utilized towards several strategic initiatives. WickedGud aims to expand its distribution network, which has grown manifold, and operates on an omnichannel distribution strategy. The brand is available on all major quick commerce and e-commerce platforms and in over 2,000 retail outlets across India, including more than 400 Reliance SMART Bazaar, Signature, and Freshpik stores.
Apart from distribution, the company aims to extend branding and marketing efforts to improve visibility in a competitive market. On top of that, WickedGud is committed to its core team, with an increase in strength to support growth ambitions. In terms of product development initiatives, it will introduce new flavors, especially Korean flavors in its instant and cup noodle range. This growth caters to the increasing Indian consumer demand for diverse and global flavors.
WickedGud has done well, stating it has grown fivefold in the last 24 months. The kind of growth achieved by WickedGud is indicative of a growing appetite for healthier food alternatives, especially amongst the younger demographics who have become more health-conscious and on the lookout for convenient meal options.
The brand’s vision finds a strong resonance with well-known actress and health advocate, Shilpa Shetty, who has been a strong supporter of WickedGud. Their support adds credibility to the brand and helps attract a wider audience who are interested in health-oriented food products.
As the food industry continues to evolve, with increasing consumer awareness about health and wellness, WickedGud is well-positioned to capture a significant share of the market. The combination of innovative product offerings, strategic funding, and strong brand advocacy will likely enhance its competitive edge in the D2C food segment.
In conclusion, this funding round led by Orios Venture Partners marks a landmark moment for the startup as it embarks on its journey to grow its presence and product offerings. WickedGud is definitely going to make a long-term difference in the Indian food market by supporting a healthier lifestyle among the consumers of this country.
