Nurture Well Foods Private Limited, a Noida-based company that makes biscuits and cookies, has successfully raised Rs 50 crore in funding from the India Inflection Opportunity Fund (IIOF). This investment marks IIOF’s sixth investment in profitable mid-market companies over the past six months.
What Does Nurture Well Offer?
Founded in 2023 by Sanidhya Garg, Nurture Well specializes in making premium cookies and biscuits under the brands “RICHLITE,” “FUNTREAT,” and “CANBERRA.” Their products include butter-rich and center-filled cookies that cater to a variety of taste preferences. The company has a state-of-the-art manufacturing facility in Rajasthan with a capacity of 32,200 MTPA and additional production partnerships in Malaysia.
Leadership Comments
Sanidhya Garg, Director of Nurture Well, expressed optimism about the partnership with IIOF. “By leveraging our market expertise alongside IIOF’s substantial financial resources, we are strategically positioned to enhance shareholder value and foster sustainable growth. This partnership lays a strong foundation for generating long-term economic value and securing a prosperous future for all stakeholders involved,” he said.
Saurabh Goel, another Director at Nurture Well, emphasized the company’s vision. “Our vision is to be a leading and innovative biscuit manufacturing company, recognized globally for our exceptional quality, diverse product range, and commitment to customer satisfaction.”
Madhu Lunawat, CIO of India Inflection Opportunity Fund, highlighted the potential in the FMCG industry. “We are thrilled with our investment in Nurture Well, a standout in the multi-category biscuit segment. The FMCG industry holds immense potential, and we are confident that Nurture Well’s dedication to quality and innovation positions it perfectly to capitalize on this growth,” Lunawat stated.
Nurture Well’s Market Presence
Nurture Well has a strong distribution network with over 150 business partners. This network spans several North Indian states, including Uttar Pradesh, Himachal Pradesh, Punjab, Rajasthan, Uttarakhand, Delhi-NCR, and Jammu and Kashmir. Additionally, the company has made inroads into international markets such as the UAE, Kuwait, Somalia, Tanzania, Afghanistan, Congo, Kenya, Rwanda, and Seychelles. Nurture Well’s products are available through both retail outlets and online portals.
According to Technopak analysis, the Indian biscuits and bakery retail market was valued at Rs 570 billion in FY 2023 and is expected to grow at a 10.5% CAGR over the next three years, reaching around Rs 770 billion by FY 2026.
Nurture Well’s recent funding round from IIOF will allow it to enhance its product offerings and expand its market reach both domestically and internationally, positioning it well for future growth in the competitive FMCG sector.
