CURRYiT, a cooking paste brand, has raised INR 4.5 crore in a seed funding round co-led by RK Family Trust, Tangent Advisors, and Freeflow Ventures, with additional participation from Ramesh Damani, Ajaya Jain, and others.
Previously, in 2021, CURRYiT secured $139K in funding, with RPSG Capital Ventures, IIMU, and other investors co-leading the round.
Plans for Growth and Expansion:
The startup will utilise the freshly acquired funds to scale operations, enhance brand marketing, and strengthen its distribution network.
“We aim to transform the consumer experience. With this recent funding, we will intensify our production and marketing efforts to establish CURRYiT as the go-to brand for every Indian’s daily cooking needs,” said founders Richa Sharma and Nischal Kandula.
CURRYiT’s Product Range and Market Position:
Co-founded in 2020, CURRYiT offers India’s most extensive range of cooking pastes. Its product lineup includes curry pastes like Kashmiri Rogan Josh and Butter Masala, along with biryani pastes, ginger garlic paste, tomato purees, and instant tadka.
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The startup asserts it delivers to over 25,000 pin codes daily and has experienced more than 50% month-on-month growth on Q-commerce platforms.
With enhanced production and distribution capabilities, it targets a fourfold increase in monthly revenue over the next six months.
“Offering clean, delicious food is not just a unique selling point for us; it’s a choice we want consumers to make for better-tasting and healthier home-cooked meals. The current market options are filled with chemicals, preservatives, dehydrated vegetables, and palm oil, which compromise both taste and quality,” the founders said.
CURRYiT also boasts a state-of-the-art in-house manufacturing facility, certified by the FDA and ISO, with over 40 quality checks in place.
The startup stated that the facility enables it to expedite product launches, reduce costs, and leverage economies of scale.
Market Insights:
Reports indicate that the Indian ready-to-cook and spices market is projected to expand at a compound annual growth rate (CAGR) of 15.7%, rising from $9.81 billion in 2022 to $42.17 billion by 2032.