CURRYiT, a startup known for its wide range of cooking pastes, has successfully closed its latest seed funding round, raising Rs 4.5 crore. This funding round was led by notable investors, including RK Family Trust (of Apollo group), Tangent Advisors, Freeflow Ventures, and prominent angel investors like Ramesh Damani (of DMart group) and Ajaya Jain.
About CURRYiT
CURRYiT was founded by IIM alumni Richa Sharma and Nischal Kandula. The company offers a diverse selection of cooking pastes, such as Kashmiri Rogan Josh, Butter Masala, biryani pastes, ginger garlic paste, tomato purees, and instant tadka. Serving over 25,000 pin codes daily, CURRYiT has experienced more than 50% month-on-month growth on Q-commerce platforms. With increased production and distribution, they plan to quadruple their monthly revenue in the next six months.
Clean and Delicious Food
The founders emphasize that CURRYiT prioritizes clean and delicious food, distinguishing itself from other products loaded with 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,” they stated.
Purpose of Fundraising
The raised capital will be used to scale up operations, enhance brand marketing efforts, and strengthen distribution channels. “We aim to change this for the consumer. 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,” the founders added.
CURRYiT’s Manufacturing Facility
CURRYiT operates a world-class FDA and ISO-certified in-house manufacturing facility with over 40 quality checks. This facility allows the company to accelerate product go-to-market while keeping costs low and benefiting from economies of scale.
Startup’s existing investors include RPSG Capital Ventures, IIM Udaipur, and LBB. The Indian ready-to-cook and spices market is expected to grow at a compounded annual growth rate (CAGR) of 15.7%, from $9.81 billion in 2022 to $42.17 billion by 2032.
