India is celebrated for its vibrant culinary wonders, featuring a diverse range of food and beverage (F&B) experiences in every state. Nevertheless, the Indian palate yearns for more fresh and exotic cuisines and flavors.
With a population of over 140 Crore people showing a strong affinity for a variety of food and beverages, Indian entrepreneurs appear to have discovered a lucrative market that is anticipated to reach $68 billion by 2030. Remarkably, startups have seized this opportunity by addressing people’s needs through direct-to-consumer (D2C) channels.
As per analysis, the beauty and personal care segment (28.6%) leads the direct-to-consumer (D2C) market in India, closely followed by the food and beverage (F&B) industry at 27%.
F&B Giants and Emerging Stars:
From well-established brands such as KFC, Amul, Baskin Robbins, and McDonald’s to emerging startups like WickedGud, Chaayos, Coolberg, and Vahdam India, Indian consumers have a plethora of choices. Despite this, there is ample room for both existing and new players to thrive in the sector.
The statement above finds support in the success of various food and beverage startups like Blue Tokai Coffee Roasters, Plix, Pluckk, and TagZ, which have gained significant traction in the industry with the backing of investors’ confidence.
The entry of innovative startups with unique product offerings has injected new life into the sector, leading SnackFax to curate a list of the food and beverage brands that are disrupting the Indian market.
Here are the F&B Brands to keep an eye on in 2024:
- Burger Singh:
Founded in 2014 by Kabir Jeet Singh, Nitin Rana, and Rahul Seth, Burger Singh is a quick-service restaurant (QSR) chain based in Gurugram.
In 2019, the company received an undisclosed funding amount from RB Investments, headquartered in Singapore. Following that, in 2022, Burger Singh successfully raised INR 30 Crore in its Series A funding round. Negen Capital led the round, with participation from LetsVenture, Mumbai Angels, Old World Hospitality, and musician Jasleen Royal.
After the fundraising in 2022, the fast-food chain announced its plan to utilize the funds for opening 120 new food outlets by the end of FY23.
In December 2023, Burger Singh secured an undisclosed amount in a pre-Series B funding round led by the trading company Turner Morrison Ltd. The funding round also saw active participation from Homage Ventures LLP – Office of Aditya Ghosh.
Read Other Articles: Burger Singh secures Pre-Series B funding, plans rapid expansion with express kiosks
As of July 2022, Burger Singh had over 80 exclusive food outlets and 12 franchisees spread across different locations in India.
In the competitive Quick Service Restaurant (QSR) sector, Burger Singh competes with renowned brands like Burger King, McDonald’s, Subway, Domino’s, and KFC.
Read Other Articles: Burger Singh’s Ambitious 2025 Plan: 250 Stores, Double Staff, $10M Funding Goal
- Wellbeing Nutrition:
A dedicated runner, Avnish Chhabria used to lament the absence of locally-produced organic and plant-based nutritional supplements in India, essential for him to maintain peak performance.
Relying on international brands sparked the concept of establishing an indigenous plant-based vitamin and mineral supplements brand. With the goal of providing a more affordable option for the majority of Indians who couldn’t afford imported plant-based supplements, Chhabria founded Wellbeing Nutrition in late 2019.
Since its inception, the company has swiftly expanded its operations. Currently, it provides a diverse range of over 53 SKUs and employs an omnichannel strategy to attract customers. The brand produces plant-based vitamin and mineral supplements in various forms, including capsules, oral strips, and effervescents, among others.
The startup collaborates with a global team of gastroenterologists, nutritionists, and experts to develop its line of products. Additionally, it sources raw materials from over 200 organic farms and certified companies across 19 countries.
Leveraging a multi-faceted omnichannel strategy, the Mumbai-based direct-to-consumer brand achieved a revenue of INR 19.5 crore in FY22. With ambitious goals, it aims to reach 100 million customers and generate INR 100 crore in revenue by 2023. Additionally, there are plans for international expansion, targeting entry into the US, the UK, and the UAE by 2025.
With support from Hindustan Unilever Limited (HUL) and Fireside Ventures, Wellbeing Nutrition has secured a total funding of $10 million from various investors. In the previous year, HUL acquired a 19.8% equity stake in the startup.
- Dogsee Chew:
Founded by Bhupendra Khanal and Sneh Sharma in 2015, Bengaluru-based Dogsee Chew offers vegetarian dog treats that are natural, human-grade, and protein-rich. These treats are made from yak milk cheese by residents of villages in Nepal, Sikkim, and Darjeeling.
In 2023, the startup successfully raised $6.7 million in its Series A funding round from Mankind Pharma and Sixth Sense Ventures.
In November 2021, it secured $7 million in its Pre-Series A funding round from Sixth Sense Ventures. Presently, it maintains a presence in more than 30 countries.
- DropKaffe:
Beverage startup DropKaffe, established in 2019 by Rakshit Kejriwal, Lakshmi Dasaka, and Chaitanya Chitta, sells ready-to-drink cold coffee, fresh coffee beans, coffee powders, and gourmet foods under the brand SLAY Coffee through its website and cafe chains.
As per its LinkedIn page, the startup is present in more than 160 locations spanning 19 cities in India.
In 2016, its parent company secured $550K in a funding round led by Fireside Ventures’ Kanwaljit Singh, Srini Anumolu & Meena Ganesh of GrowthStory, Apurva Salarpuria from Salarpuria Group, Sidharth Pansari from Primac, Rahul Gidwani, Hitesh Oberoi from Naukri, Nirupa Shankar from Brigade Group, and Bhupen Shah also participated in the round.
The venture asserts that it caters to over 500,000 customers in 20 cities throughout the country.
- Eat Better:
Established in 2020 by Mridula Kanoria and Shaurya Kanoria, the Jaipur-based organic food startup Eat Better offers nutritious snacks like coffee and almond laddoos, hazelnut chocolate laddoos, vanilla, and cacao laddoos, among other options, through its website and various e-commerce platforms.
The startup operates a production facility in Jaipur and oversees a workforce comprising more than 50 female employees.
In March 2022, it secured a seed funding of INR 5.5 Cr to strengthen its team, expand offerings, and develop marketing and distribution channels.
Several investors, including Java Capital, Mumbai Angels, Shiprocket Ventures, CapierCapital, and Plan B Capital, took part in the funding round.
Earlier, it claimed to have reported over 10x growth in revenues between October 2020 and March 2022.
- Good Flippin’ Burgers:
Founded in 2019 by Viren D’silva, Sijo Mathew, and Sid Marchant, the burger chain Good Flippin’ Burgers operates 23 outlets across Mumbai and Delhi, with 16 situated in Mumbai. The brand expanded into the Delhi market by opening seven new outlets in 2023.
In 2023, the startup secured $4 million in its Series A round, spearheaded by Tanglin Venture Partners. Additionally, it raised $1.1 million in a seed round led by Nikhil Bharadwaj, director of Kerala Blasters Football Club, along with Karan Bhagat and Yatin Shah of IIFL Wealth.
Operating in just two Indian cities, the startup has aspirations to broaden its presence across the country. It is currently in the process of embracing cloud, hybrid, and dine-in formats, with a particular emphasis on establishments within malls and airports.
- Chaayos:
Established in 2012 by Nitin Saluja and Raghav Verma, the F&B brand Chaayos offers a variety of teas and pre-packaged food products through both offline and online platforms. The brand leverages cutting-edge technologies such as AI and IoT to streamline its operations effectively.
Earlier, the brand shared that 45% of its revenue comes from online tea deliveries. The brand operates 190 retail outlets across six Indian cities. In June 2022, it secured $53 million in its Series C funding to develop tech infrastructure and expand its presence.
Its capitalization table features Alpha Wave Ventures, Elevation Capital, Think Investments, Tiger Global, SAIF Partners, InnoVen Capital, Pactolus, and Ola cofounders Bhavish Aggarwal and Ankit Bhati, among others.
- Chai Point:
Founded in 2010 by Amuleek Singh Bijral and Professor Tarun Khanna, Chai Point follows an omnichannel approach to selling various tea varieties and snacks. It opened its first retail store in 2010, introduced home delivery of its flagship teas in 2014, and rolled out tea and coffee vending machines in 2016.
In 2018, the D2C F&B brand successfully raised $20 million in its Series C funding round. To date, it has accumulated $36 million in funding from backers such as Paragon Partners, Eight Roads, Saama Capital, and DSG.
In the fiscal year 2020-21, the company’s revenues from operations were INR 55.64 Crores, while the loss after tax amounted to INR 78.49 Crores, as per Tofler.
- Country Delight:
Established in 2013 by Chakradhar Gade and Nitin Kaushal, Country Delight acquires milk and various food items like ghee, cottage cheese, fruits, and vegetables directly from farmers, delivering them to customers’ doorsteps.
In May 2022, the company raised $108 million in its Series D funding round from Venturi Partners, Temasek, SWC Global, Trifecta Capital, and a host of other investors. Prior to this, it had also raised $25 million in a Series C round led by Elevation Capital. Thus far, the total raised in funding amounts to $133 million.
It asserts a 10x growth in the last three years and boasts of catering to over 1.5 million customers nationwide. Additionally, the company claims to deliver more than 8 billion orders each month, spanning across 11 states in India.
Its cap table features investors such as Matrix Partners, Orios Venture Partners, Elevation Capital, and IIFL PE Fund, among others.
- Curefoods:
Curefoods, founded in 2020 by Ankit Nagori, is a cloud kitchen aggregator that houses several brands, including EatFit, Sharief Bhai, Aligarh House Biryani, and CakeZone, among others. It manages over 150 cloud kitchens in 15 Indian cities.
In 2023, Curefoods secured a funding of $37 million from Three State Ventures, the fund led by Binny Bansal. Furthermore, Bollywood actress Nora Fatehi not only invested in Curefoods but also took on the role of the brand ambassador for its sub-brand, CakeZone.
Read Other Articles: Curefoods secures INR 300 crore funding led by Three State Capital, aims to expand offline footprint
Its cap table comprises Iron Pillar, Chiratae Ventures, Accel Partners, Sixteenth Street Capital, and Bollywood actor Varun Dhawan, among other contributors.
In the fiscal year 2021-22, it disclosed operational revenue of INR 1.3 Cr, with consolidated losses amounting to INR 7.4 Cr, as per Tofler.
- Desi Farms:
Set up in 2016 by Prateek Gupta and Sunil Shahi, D2C startup Desi Farms sells dairy products such as Malai Dahi, whole buffalo milk, Shrikhand, and Amrakhand, among others.
To cut out intermediaries, the dairy startup collaborates with local farmers to source fresh milk and milk products. Subsequently, these products undergo stringent quality checks at the processing unit, where the milk is treated without the use of chemical preservatives.
It delivers dairy products to customers without imposing any charges and additionally offers personalized subscription services to its users.
The startup presently provides 48 SKUs and asserts to have a customer base of over 10K paid users. In 2022, it established over 50 offline outlets in Pune and Navi Mumbai. In the fiscal year 2022, it achieved a revenue of INR 8.8 Cr.
- The Filling Station:
Established in 2021 by Mahua Ghosh and Suvankar Ghosh, the Mumbai-based healthy food snack startup, The Filling Station, specializes in selling nutrient-rich laddoos, oil-free snacks, and nutrient-rich spreads. These products are conveniently available for purchase on their website and through popular e-commerce platforms such as Amazon and Flipkart.
For its snacks, the startup incorporates ingredients like palm, oats, makhana, seeds, nuts, and date fruit. Mahua Ghosh, one of the co-founders, brings with her 11 years of experience in the food industry, having worked with various fast-food joints, cloud kitchens, and retail brands. The venture has garnered recognition from the Centre’s Startup India Initiative, as mentioned on their website.
- Drink Prime:
Established in 2016 by software engineer Vijender Reddy Muthyala and corporate executive Manas Ranjan Hota, DrinkPrime is a watertech startup that enables users to rent IoT-enabled water purifiers through the platform’s app and website.
Operating on a monthly and daily subscription model, DrinkPrime came into existence after the duo failed to find a reliable and affordable water purifier. Since inception, the startup’s purifiers have been installed in more than 72,000 locations, and it has garnered over 1 Lakh subscribers.
Read Other Articles: DrinkPrime earns Trailblazer title at Dun & Bradstreet Startup50 awards, sets new standard for water purifier industry
Supported by investors like Omidyar Network India, Sequoia Surge, and 9Unicorns, DrinkPrime has raised over $11.5 Mn in capital across multiple funding rounds. It directly competes with domestic startups in the watertech sector, including Swajal and OwO.
Looking to expand nationwide, the startup aims to reach 1 million households across the country.
- Flistaa:
Established in 2021 by CA Harshvardhan Chhatbar, Flistaa is a beverage brand specializing in providing premix beverages in sachets. The brand offers a diverse array of Indian beverages, including street juices, milkshakes, sharbat, and more.
In December 2021, the Ahmedabad-based D2C startup reportedly received an undisclosed amount of investment from ah! Ventures’ First Gear Platform.
- FreshToHome:
FreshToHome was incorporated in 2015 by serial entrepreneur Shan Kadavil and Mathew Joseph. Kadavil’s inspiration to enter the direct-to-consumer (D2C) meat and fish industry came when his personal fish supply faced disruption due to the impending closure of Sea To Home, an ecommerce platform based in Kerala.
Teaming up with Joseph, a co-founder of Sea To Home and an angel investor, Kadavil initiated his new venture. Since then, the direct-to-consumer (D2C) meat startup has experienced substantial growth, currently catering to 160 cities in India and all seven emirates in the UAE.
Having secured investments from notable backers like Amazon Sambhav Venture Fund, E20 Investment, Mount Judi Ventures, Investcorp, and Iron Pillar, the D2C meat startup has amassed a total funding of $256 Mn through various funding rounds.
Rivaling companies such as Licious, Zappfresh, and Meatigio, among others, the company aims to enhance its growth by extending its store count to 100 across all major metros by the end of 2024.
- Happilo:
Founded in 2016 by Vikas Nahar, Happilo sells a range of healthy snacks such as nuts, dry fruits, seeds, and dry roasted snacks through its website and offline stores. The brand also provides the option to pay through EMIs.
In February of last year, the Bengaluru-based D2C brand secured $25 Mn from Motilal Oswal Private Equity. The startup then claimed that it had expanded over 4x in the last 24 months. It also said that it was aiming for a revenue of INR 2,000 Cr over the next four years.
To date, Happilo has secured a cumulative funding of $38 Mn.
- Happy Nature:
Set up in 2022 by Sahil Chopra, Parth Birendra, Vikas Singh, and Vishal Rastogi, Happy Nature is a farm-to-fork dairy startup. It operates a dairy farm in Jhajjar, Haryana.
The startup has devised its standard operating procedures (SOPs) to maintain low aflatoxin levels in cow’s milk, all without incorporating chemical preservatives and antibiotics. Currently, it caters to over 80,000 customers across Delhi-NCR, Punjab, and Haryana, offering a diverse range of more than 35 SKUs.
In the financial year 2021-22 (FY22), the company disclosed a 69% year-on-year surge in its revenue, reaching INR 14.4 Cr. Additionally, it has outlined plans to achieve an annual revenue of INR 150 Cr by the year 2025.
- Heads Up For Tails:
Established in 2008 by Rashi Narag, Heads Up For Tails offers an extensive array of pet products, including preservative-free treats, organic supplements, and orthopedic beds. The company is dedicated to raising awareness among pet parents about the importance of pet care and wellness.
In August 2021, the pet care brand based in Delhi successfully raised $37 Mn in its Series A funding round, with Verlinvest and Sequoia Capital India leading the investment. At that time, the company employed 350 individuals and expressed intentions to introduce new product offerings throughout India. Furthermore, it aimed to broaden its product portfolio in international markets.
The startup has accumulated a total funding of $50.3 Mn thus far.
- iD Fresh Food:
Set up in 2005 by PC Musthafa, Abdul Nazer, Shamsudeen TK, Jafar, and Noushad TA, iD Fresh Food offers a range of ready-to-make food products, including dosa and idli batter, rice rava idli batter, both in India and internationally.
In January 2022, the Bengaluru-headquartered D2C startup secured $68 Mn in its Series D funding round, bringing its total funding to $104 Mn.
Presently, it operates in over 45 cities worldwide, including Mumbai, Bengaluru, Pune, Hyderabad, and Dubai, among others.
Read Other Articles: iD Fresh Food batter sales surge to INR 479 Crores in FY23, marking remarkable growth
Among its investors are NewQuest Capital Partner, Premji Invest, Sequoia Capital, Helion Ventures, and Azim Premji.
- Kapiva:
In 2020, when the pandemic confined millions of Indians to their homes, the ancient Indian science of health, Ayurveda, unexpectedly gained widespread popularity. For Ameve Sharma, Ayurveda had never been pushed to the sidelines.
From the renowned 103-year-old Baidyanath family, the scion, educated at INSEAD and New York University, grew up observing the way the ancient science aided individuals from various backgrounds. Faced with numerous inquiries from friends about Ayurvedic medications, Sharma recognized a significant gap in the market, prompting him to establish Kapiva.
Offering a diverse range of over 100 SKUs, Kapiva markets Ayurvedic consumables and products, including juices, Shilajit, hair oil, shampoos, resins, and more.
At the core of Kapiva’s operations is the procurement of high-quality raw materials and the implementation of global-standard processing. The startup is placing significant emphasis on increasing awareness, expanding product categories, and elevating quality to achieve widespread adoption. As a consequence of these efforts, the startup asserts to have experienced a 7.5X growth over the past three years.
The company aims to achieve an annual revenue of INR 850 Cr by the fiscal year 2026 from its consolidated global operations, including India.
Supported by investors like Vertex Ventures, Fireside Ventures, and 3one4 Capital, Kapiva has accumulated a total funding of $15.77 Mn through various rounds.
- Lahori:
Lahori, founded in 2017 by Saurabh Munjal, Saurabh Bhutna, and Nikhil Doda, sells Indian beverages in four flavors – Zeera (cumin), Nimboo (lemon), Kacha Aam (raw mango), and Shikanji (lemonade) – across India.
Lahori’s parent company, Archian Foods, manufactures approximately 1 million bottles in its production facility. These bottles carry certifications from FSSAI, ISI, HACCP, RoHS, and proudly bear the Make In India accreditation.
In January 2022, Lahori, a Punjab-based startup, received its first institutional funding of $15 million from Verlinvest, securing a minority stake in the company.
- Licious:
Founded in 2015 by Abhay Hanjura and Vivek Gupta, Licious provides a variety of meat and seafood options, ranging from prawns and kebabs to mutton and more. Additionally, the company manages the entire supply chain for its products, overseeing procurement, processing, and delivery to ensure a seamless experience for customers.
In March, the foodtech unicorn raised $150 million in funding from Amansa Capital, Kotak PE, Axis Growth Avenues AIF – I, along with contributions from Nithin and Nikhil Kamath of Zerodha, Aman Gupta from boAt, and Haresh Chawla from True North.
Prior to this, it secured $52 million in October 2021. During the financial year 2020-21, it achieved an annual revenue of INR 1,000 Crore with a presence in 14 cities across India. The customer base surpassed 2 million in the fiscal year 2020-21.
- Pluckk:
Established in 2021 by Pratik Gupta, Pluckk stands as a direct-to-consumer (D2C) brand specializing in fruits and vegetables. Setting itself apart, the brand provides users with an extensive range of over 400 products across 15+ categories. This diverse selection encompasses salads, dips, juices, cuts, mixes, as well as exotic fruits and vegetables.
At present, Pluckk is active in prominent cities, including Mumbai, Delhi, Bengaluru, and Pune. Future expansion is on the horizon, with plans to broaden its footprint to additional cities in the coming years. The brand disperses its products through its exclusive app, website, and rapid commerce platforms such as Amazon, Swiggy, Dunzo, Zepto, and Reliance Signature Stores.
In early 2023, Pluckk secured $5 million in seed funding from Exponentia Ventures. It has also obtained an undisclosed amount of funding from actor Kareena Kapoor Khan.
- Power Gummies:
Founded in March 2018 by Divij Bajaj, Power Gummies is a nutraceutical startup that focuses on selling flavoured and chewable vitamins tailored to address hair, nail, and skin problems. These gluten-free products are certified by the Food Safety and Standards Authority of India (FSSAI).
Experiencing a remarkable surge, its revenue skyrocketed by over 6 times, reaching INR 54 crore in FY22 compared to INR 8.8 crore the previous year. To date, the company has successfully sold over 40 lakh products to a customer base exceeding 10 lakh.
The company has strategic plans to introduce more than 40 SKUs in the upcoming five years, which will include a dedicated range specifically designed for kids. Additionally, there is a focus on expanding its footprint in the UK and other international markets, along with the establishment of additional manufacturing facilities to oversee production, daily operations, and logistics.
Up until now, the startup has secured a cumulative funding amounting to INR $12.9 million. Power Gummies’ list of investors includes 9Unicorns, Venture Catalysts, DSG Consumer Partners, Wipro Consumer Care Ventures, and Sharpp Ventures.
- Rage Coffee:
Established in 2018 by Bharat Sethi, Rage Coffee is a company that offers a variety of coffee-based products throughout India. With certifications from FDA, FSSAI, and ISO, Rage Coffee proudly asserts its service to over 7.5 lakh customers and boasts a product portfolio of 18 SKUs.
In March, the D2C food and beverage brand based in Delhi received an undisclosed investment from Indian cricketer Virat Kohli. Preceding this, the company had successfully raised almost $5 million in its Series A funding round.
Cumulatively, it has garnered $7 million in capital from prominent entities including Sixth Sense Ventures, 9Unicorns, Refex Capital, and Keiretsu Forum Chennai.
Rage Coffee recorded revenues of INR 23.5 crore in FY22 and aims to achieve a revenue target of INR 92 crore by the end of FY23. Additionally, it previously emphasized its intention to intensify its physical presence and expand its number of outlets to 10,000 by March 2023.
Read Other Articles: Rage Coffee gears up for global expansion, set to open kiosks and strengthen market presence
- Slurrp Farms:
A lack of healthy snacking options for their kids led Meghana Narayan and Shauravi Malik, two mothers, to the discussion table. The duo identified a substantial gap in the market for kids’ snacks.
To fill this gap, they founded Slurrp Farm in October 2016. The D2C brand sells a range of healthy products, from ready-to-mix pancakes and dosas to noodles and pastas.
Slurrp Farms, distributing its products through its website and various e-commerce platforms, serves customers not only in India but also in countries like the UAE, the US, and the UK.
Supported by notable entities such as the Investment Corporation of Dubai, Fireside Ventures, and actor Anushka Sharma, Slurrp Farms has secured a total funding of approximately $9 million to date.
Capitalizing on its existing growth trajectory, the direct-to-consumer snacks brand aims to achieve a revenue of INR 500 crore by the year 2025.
- Sweet Karam Coffee:
Conceived by Anand Bharadwaj, Nalini Parthiban, Srivatsan Sundararaman, and Veera Raghavan, Sweet Karam Coffee specializes in preservative-free South Indian sweets and snacks. Their diverse offerings extend to the ever-popular filter coffee and ready meal mixes, reaching audiences throughout the country.
Established in 2015, this direct-to-consumer brand is committed to addressing the challenge of limited availability and accessibility of well-packaged traditional sweets and snacks that are also free from palm oil.
The brand SKC distributes its products through its website and app, attracting customers from over 32 countries. SKC faces competition from emerging startups like id Fresh Food, DropKaffe, Chaayos, TagZ, and others.
Supported by Fireside Ventures, the startup secured funding of $1.5 million in October 2023.
- TagZ:
The D2C snack brand came into the limelight after featuring in the first season of the TV show Shark Tank India and has not looked back since then. Founded in 2019 by Anish Basu Roy and Sagar Bhalotia, the company sells popped chips, which are neither baked nor fried.
The concept originated from Roy’s experiences during his travels abroad, motivating him to explore innovations in the healthy snacks category.
From cricketer Shikhar Dhawan to 9 Unicorns, supporters of TagZ have invested over $4.2 million in the startup thus far. The D2C brand has experienced significant growth, boasting a 30X increase in volumes over the past 18 months, concluding in May 2023.
Available in 5,000 stores spanning 22 cities and distributed through quick commerce platforms, TagZ extends its product reach internationally to markets like Kuwait, Dubai, Maldives, and Australia.
- TenderCuts:
Established in 2016 by Nishanth Chandran, TenderCuts specializes in the sale of a diverse range of meat and seafood products, including chicken, mutton, eggs, and frozen food items. The products are available through both its website and physical stores.
The startup secured its latest funding of INR 110 crore in a round led by Paragon Partners in February 2021. Overall, it has raised $29.1 million in funding from prominent investors, including Stride Ventures and Nabventures.
In August 2023, the direct-to-consumer meat delivery brand was acquired by the omnichannel meat brand Good To Go in what seemed to be a distress sale, and the acquisition amount remains undisclosed.
- The Divine Foods:
Established in 2019 by Kiru Maikkapillai, The Divine Foods is a direct-to-consumer superfoods brand that offers packaged products featuring Indian kitchen staples such as turmeric, moringa, millet, and more.
Its product range is primarily categorized into four segments, covering women’s care, immunity boosters, diabetic care, and kids. The offerings from this direct-to-consumer brand include skincare products, mil mixes, powdered superfoods, and spreads.
Nurtured under the Tamil Nadu government’s prominent seed funding initiative, TANSEED 4.0, the startup boasts investors including the acclaimed superstar Nayanthara and her husband-director Vignesh Shivan. In October 2023, the Chennai-based direct-to-consumer brand secured an undisclosed amount of funding from this celebrity duo.
The startup asserts that it has catered to over 25,000 customers and is accessible in five nations worldwide.
- Vahdam Teas:
Vahdam, founded in 2015 by Bala Sarda, is an online tea brand that sells its products in domestic as well as international markets.
In September 2021, Vahdam reportedly secured INR 174 crore in its Series D round led by IIFL AMC’s PE Fund. After the round, the startup claimed that it had raised INR 290 crore in total funding from investors.
In FY22, it achieved a revenue of over INR 200 crore, up from INR 161 crore in FY21. However, the D2C brand slipped into the red, reporting a loss of INR 16 crore in FY22 against a profit of INR 1.94 crore in FY21.
The startup targets achieving a net revenue of INR 500 crore by the year 2024.
- Coolberg:
Established in 2016 by Pankaj Aswani and Yashika Keswani, Coolberg is a non-alcoholic beer brand offering a range of beverages, including cranberry, peach, ginger, malt, strawberry, mint, and cranberry, through its website and offline distribution channels. Presently, it maintains a presence in India, Africa, Maldives, Bhutan, and Nepal.
In 2019, Coolberg secured $3.5 million in its Series A funding round with investments from RB Investments, India Quotient, Ashish Goenka from Suashish Diamonds, and the Indian Angel Network. Before that, it had received an undisclosed amount from India Quotient and the maiden fund of the Indian Angel Network.
In 2022, Ghodawat Consumer acquired the beverage startup for an undisclosed sum. The startup mentioned that this acquisition would assist in cultivating a portfolio of contemporary premium beverage brands as part of the agreement.
- Wingreens Farms:
Established in 2011 by Anju Srivastava and Arun Srivastava, Wingreens Farms specializes in the sale of packaged food products, including sauces and spreads, spice mixes, breakfast cereals, non-dairy milk, protein shakes, and more. The distribution encompasses both its website and an offline network, reaching over 200 cities across India.
In May 2022, the D2C food brand acquired the parent company of Postcard, Dharmya Business Ventures, for approximately ₹2.1 million in a cash and share swap agreement.
In December 2021, it secured $17 million in its Series C funding round, with Investcorp leading the investment. Following that, there were reports of an additional INR 22 crore investment from Anicut Capital. To date, the company has amassed a total funding of $49.8 million from various investors.
- Zappfresh:
Established in 2015 by Deepanshu Manchanda and Shruti Gochhwal, ZappFresh is a Gurugram-based direct-to-consumer (D2C) meat delivery startup. The company gained prominence as customers increasingly turned to online platforms to fulfill their meat orders during the pandemic-induced lockdowns.
Supported by investors like SIDBI Venture Capital, Dabur Family Office, LetsVenture, and Keiretsu Forum, ZappFresh has accumulated funding totaling $7.9 million. The company recently made its entry into the Bengaluru market by acquiring Dr. Meat for an undisclosed sum.
Capitalizing on its growth figures, Zappfresh aims to achieve an overall revenue of INR 300 crore by the end of FY24, focusing on expanding its presence in Southern India. The company faces competition from entities like Licious and quick commerce platforms including Swiggy Instamart and Blinikit, among others.
- Jade Forest:
Founded in 2019 by Shuchir Suri and Punweet Singh, Jade Forest provides a variety of non-alcoholic beverages through its website, e-commerce marketplaces, and last-mile delivery platforms. The pricing of its products ranges from INR 80 to INR 85.
In 2021, it secured $1 million from Mumbai Angels Network. Before this, it secured $250,000 in its seed funding round from angel investors such as Gaurav Kapur, Rohan Abbas, Ashish Tulsian, and AngelList India.
Its products have received certification from the US FDA. Over the past two years, it has extended its presence to 23 cities across India.
- Jimmy’s Cocktails:
Gurugram-based Jimmy’s Cocktails, founded in 2019 by Ankur Bhatia and Nitin Bhardwaj, offers a range of cocktail mixers, including gin cherry sour, bloody mary, lime margarita, and mango chilli mojito, among others.
In April, Jimmy’s Cocktails raised $1.8 million in its Pre-Series A funding round, with participation from investors like Roots Ventures, 7Square Ventures, Vishesh Khurana from Shiprocket, Varun Alagh from Mamaearth, Keki Mistry from HDFC, and others.
The startup then said that it had sold over 6 million cocktails in the first three months of 2022.
In the fiscal year 2021-22, it achieved a threefold increase in revenue. Approximately 40% of its revenue originated from Tier II and III cities.
In July 2023, Radiohead Brands, the parent company of the beverage maker, secured $1.3 million and announced the launch of its energy drink brand, Hustle.
Read Other Articles: Radiohead Brands raises $1.3 Million in funding, expands into energy drinks market with launch of ‘Hustle’
37: MasterChow:
Founded in 2020 by Vidur Kataria and Sidhanth Mada, Delhi-based MasterChow offers a range of ready-to-cook products, including noodles, dipping sauces, and sticky rice, among others.
In May, MasterChow secured $1.2 million in funding from Anicut Capital, WEH Ventures, and Fluid Ventures.
Before this, it had secured approximately $462K in its seed funding round from WEH Ventures and some angel investors. The startup had then claimed that it had grown 10x over the previous 12 months and shipped products to over 17,000 pin codes across India.
38: Namhya Foods:
Based in Jammu, Namhya Foods specializes in snacks and beverages crafted from Indian herbs and natural ingredients.
Established in 2019 by Ridhima Arora, the startup took shape when she participated in Shark India’s first season, successfully securing INR 50 lakh for a 10% equity stake. Additionally, she obtained an extra INR 50 lakh in debt funding from Aman Gupta, the co-founder of boAt.
Namhya Foods positions itself as a supplier of wholesome food products tailored to support individuals dealing with various health conditions, including diabetes, heart issues, high blood pressure, cholesterol, thyroid problems, and chest congestion. The company provides a varied range of products.
Besides its operations in India, Namhya Foods has a footprint in the United States and intends to extend its presence into the UAE, Australia, and Canada.
- Nourish You:
Conceived in 2015 by Rakesh Kilaru, Krishna Reddy, and Sowmya Reddy, Nourish You specializes in selling nutrient-rich breakfast food products and snacks directly to consumers through its website and various e-commerce platforms, such as Flipkart, BigBasket, and Amazon, among others.
In addition to direct consumer sales, the startup exports its food items to countries such as Singapore, Nepal, Kenya, Dubai, Mongolia, and the Maldives. Among its offerings are products like quinoa flour, chocolate & banana muesli, and cranberry walnut mix.
Earlier, the startup shared that it had 5,000 acres of quinoa and chia farms in Rajasthan, Karnataka, and Madhya Pradesh.
In January 2023, the startup obtained $2 million in seed funding to support research and development activities, enhance brand marketing, and strengthen its distribution and market presence. As a part of this funding round, it also received an undisclosed amount of investment from actress Samantha Prabhu.
- Paper Boat:
Founded in 2010 by Neeraj Kakkar and Niraj Biyani, Paper Boat offers a variety of fruit-based drinks with Indian flavors, including aam panna (raw mango), rose tamarind (tamarind juice), chilli guava (guava juice), ‘jaljeera’ (spicy, tangy lemonade), among others.
In August, the startup secured $50.1 million in funding from the sovereign fund Lathe Investment Pte Ltd, owned by GIC.
At that time, it maintained a presence in metro cities, Tier II towns, and beyond. In the fiscal year 2021-22, it recorded revenue of INR 243 crore, with losses amounting to INR 64 crore. Meanwhile, in the fiscal year ending March 2020, it reported revenue of INR 231 crore and losses of INR 100 crore, as per Tofler.
- Plix:
Founded in 2019 by Rishubh Satiya and Akash Zaveri, Mumbai-based Plix specializes in plant-based nutrition supplements, offering a range that includes gummies, superfood powders, and effervescent tablets. Plix asserts that its products effectively address concerns related to weight loss, hair fall, skin, daily wellness, women’s health, and workout requirements.
In July 2023, FMCG powerhouse Marico secured a majority 58% stake in Plix for INR 369.01 crore, marking its entry into the direct-to-consumer (D2C) arena. According to the terms of this agreement, Marico assumed control over Plix’s board, and Plix officially became a subsidiary of Marico.
Competing with companies such as OZiva, Setu Nutrition, and Fast&Up, Plix has a customer base of over 1.5 million individuals. The omnichannel brand presents a varied portfolio comprising 60 products across six categories.
- Samosa Singh:
Founded in 2016 by Nidhi Singh, Shikhar Veer Singh, Samosa Singh specializes in selling Indian food snacks, including samosa, kachori, pani puri, and matar kulcha, among others. The company serves its customers through cloud kitchens and kiosks.
It had earlier shared that its manufacturing unit has the capacity to produce 25,000 food items daily.
In 2020, the startup raised $2.7 million (INR 17 crore) in a Series A funding round to enhance the capacity of its central kitchen located in Bengaluru. She Capital led the funding round.
As of March 2020, it was established in more than 25 locations across Hyderabad and Bengaluru. The company asserts that it has established 100 cloud kitchens in key cities of South India.
- Storia:
Founded in 2017 by Vishal Shah, Mumbai-based Storia offers a range of processed fruit juices, coconut water, and shakes to customers.
In 2021, it secured $6 million in Series A funding from Sixth Sense Ventures. Presently, it has established a presence in 33 Indian cities through its network of 50,000 retail outlets.
During the announcement of its Series A funding round, the startup expressed intentions to introduce new offerings, broaden its distribution network, and venture into the packaged food segment.
- The Good Bug:
Conceived in 2022 by Keshav Biyani and Prabhu Karthikeyan, Mumbai-based startup The Good Bugs offers a range of products designed to promote and maintain gut health for consumers. Its primary focus lies in addressing the health concerns of individuals aged 25-60 who may be grappling with the negative consequences of unhealthy dietary and lifestyle choices.
At present, the startup functions as an omnichannel brand, with around 70% of its revenue generated through its website and the remaining 30% from various online marketplaces. Noteworthy is the startup’s recent initiation of partnerships with pharmacies to broaden its offline presence.
Since its inception, the brand asserts that it has served more than 2 lakh customers. It also declares a robust repeat rate ranging from 40-45%. In an effort to broaden its product offerings, the startup plans to introduce 20 new products to its portfolio in the next six to twelve months.
- The Whole Truth:
Founded in 2019 by Shashank Mehta, The Whole Truth specializes in selling dark chocolate, muesli, protein bars, nut butter, and energy bars through its website and other ecommerce marketplaces.
In July, the direct-to-consumer (D2C) snack brand raised $6 million in its Series A funding round, with participation from Sequoia Capital India, Matrix Partners India, Sauce.vc, Flipkart’s Kalyan Krishnamurthy, Udaan’s Sujeet Kumar, Ashneer Grover, and Shashvat Nakrani.
The startup had then asserted that it had grown 12x in the last 18 months. Additionally, The Whole Truth stated that 50% of its sales are received through its website, with the remaining portion coming from ecommerce marketplaces.
In 2023, the startup secured $15 million to enhance its manufacturing capacity, recruit talent, and expand its retail distribution.
- Troo Good:
Established in 2018 by Raju Bhupati, Troo Good offers a variety of millet, peanut, chocolate, and dry fruit snack bars and mixtures. In its first year, it achieved a revenue of INR 12 Crore, while in 2019, it posted a revenue of INR 24 Crore. The startup claims that it is currently profitable before tax.
In November 2021, Troo Good secured $7.4 million from OAKS Asset Management to expand its business in the domestic market.
- True Elements:
Bengaluru-based True Elements, established in 2013 by Puru Gupta and Sreejith Moolayil, is a company that focuses on offering breakfast and snack foods crafted from millets, grains, and seeds. Employing an omnichannel marketing strategy, the brand sells its products through its website, various e-commerce marketplaces, and brick-and-mortar stores.
In May 2023, the consumer company Marico acquired a 53.98% stake in HW Wellness Solutions, the parent company of True Elements, for an undisclosed amount. Before this acquisition, True Elements had received a funding of INR 10 Cr from the Maharashtra State Social Venture Fund the previous year.
In the financial year 2021-22, it recorded sales of over INR 54.3 Cr, compared to INR 36.3 Cr in the previous fiscal year.
At present, the company sells more than 70 products and boasts a portfolio of over 200 stock-keeping units (SKUs) available in 12,000 retail outlets across India. It asserts that over 75% of its revenue is generated through online distribution channels.
- Twigly:
Founded in 2015 by Sonal Minhas, Rohan Dayal, and Naresh Kumar Kachhi, Twigly offers freshly cooked food delivered to consumers’ doorsteps through its website and mobile app. Presently, it fulfills orders in Delhi-NCR, featuring a menu that includes burgers, pasta, grill platters, desserts, and a variety of beverages.
As per its founders, the startup is inspired by Sprig, a food delivery startup based in San Francisco that used to provide freshly cooked meals to its customers. Unfortunately, Sprig ceased its operations in 2017.
In September 2018, its competitor acquired Twigly for an undisclosed sum.
49: Wellbeing Nutrition:
Established in 2019, Wellbeing Nutrition is a Mumbai-based direct-to-consumer (D2C) nutraceutical company. Co-founded by Avnish Chhabria and Saurabh Kapoor, the startup specializes in providing nutritious food products, with a primary emphasis on women’s health.
The company’s range of products comprises Melts, vitamin-infused thin strips, Korean Marine for collagen, and Daily Fiber for plant-based prebiotic fiber, among other offerings.
In December 2022, Wellbeing Nutrition successfully raised $10 million (INR 85 Cr) in its Series B funding round, with Hindustan Unilever Limited (HUL) and Fireside Ventures as the lead investors. Presently, HUL holds a 19.8% stake in the startup.
The company has garnered support from a diverse group of investors, including Bollywood actor Rakulpreet Singh, Mira Kapoor, Ashutosh Valani, and Priyank Shah from RENEE Cosmetics, Nikhil Gandhi from MX Player, Harsh Vardhan Bhandari, Jeenendra Bhandari, and several others.
Wellbeing Nutrition operates in the D2C segment and competes with brands such as Power Gummies and Fast&Up.
- WickedGud:
Established in 2021 by Bhuman Dani, Soumalya Biswas, and Monish Debnath, WickedGud retails pasta, noodles, malted beverages, and various snacks through its website and ecommerce platforms. The company emphasizes that its products are entirely vegan and incorporate plant-based protein.
In April, WickedGud raised $1 million from investors such as Mumbai Angels, NB Ventures, Dholakia Ventures, Jalaj Dani Family Office, Ashutosh Valani, Priyank Shah from Renee Cosmetics, Ravi Shroff from Excel Industries, Ravi Nigam from Tasty Bite, Ashwini Deshpande from Elephant Design, and several others.
Before this, WickedGud had raised $340K in its pre-seed funding round with contributions from Titan Capital, Archana Priyadarshini from Point One Capital, Gaurav Ahuja from Chrys Capital, Amit Chaudhary from Lenskart, and various others.
The startup caters to customers in the age range of 26 to 42 and asserts an average order value of INR 450.