WickedGud Secures Rs 20 Crore Investment to Expand Healthy Snack Offerings
Deal News | Dec 04, 2024 | Orios Venture Advisors Pvt Ltd
Orios Venture Partners led a Rs 20 crore funding round for WickedGud, a Mumbai-based direct-to-consumer food brand backed by Shilpa Shetty. The investment will be used to expand WickedGud's distribution network, enhance branding and marketing efforts, and strengthen its team. Founded in 2021 by Bhuman Dani, WickedGud offers health-conscious alternatives in noodles, pastas, and chips, aiming to cater to India's Gen Z and Gen X populations. The company has experienced significant growth, particularly in Reliance Retail and quick-commerce platforms, and it plans to further augment its product range to include Korean flavors. The instant noodles market is expected to double to Rs 30,000 crore by 2028, positioning WickedGud as a leader in healthy convenience foods. This funding follows a previous Rs 6 crore raise from Asiana Fund and other investors.
Sectors
- Food and Beverage
- Venture Capital
- Retail
Geography
- India – WickedGud is a Mumbai-based startup, and its operations and market focus are primarily within India.
Industry
- Food and Beverage – The main focus of the article is WickedGud, a direct-to-consumer food brand offering healthy snacks, operating in the food and beverage industry.
- Venture Capital – Orios Venture Partners' leading role in the funding round highlights the significance of venture capital in the growth of startups like WickedGud.
- Retail – WickedGud's distribution strategy involves significant presence in retail outlets, including major platforms like Reliance Retail and quick commerce.
Financials
- Rs 20 crore – The total amount raised in the current funding round led by Orios Venture Partners.
- Rs 6 crore – Amount raised in a previous funding round approximately a year earlier.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| WickedGud | Target Company | Company | A direct-to-consumer food brand focusing on healthy noodles, pastas, and chips. |
| Orios Venture Partners | Investor | Company | The leading investor in the Rs 20 crore funding round for WickedGud. |
| Asiana Fund | Investor | Company | Participated in the funding round for WickedGud. |
| Shilpa Shetty | Backer | Person | Celebrity backer and supporter of WickedGud. |
| Bhuman Dani | Founder | Person | Founder of WickedGud and a driving force behind the company's growth and vision. |