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Shilpa Shetty-backed WickedGud raises Rs 20 Cr led by Orios Venture Partners

EntrackrEntrackr · 7m ago
Shilpa Shetty-backed WickedGud raises Rs 20 Cr led by Orios Venture Partners
Medial

Shilpa Shetty-backed WickedGud, direct-to-consumer (D2C) food products brand, has raised Rs 20 crore led by Orios Venture Partners and saw participation from Asiana Fund and a clutch of existing investors. Earlier in June 2023, WickedGud secured $250,000 in additional growth funding led by GetVantage. WickedGud has earlier been backed by Titan Capital, Mumbai Angels, NB Ventures. The proceeds will be used to ramp up its distribution network, increase spending on branding and marketing, and strengthen its core team. It also plans to expand its product development initiatives, enhancing the existing portfolio and adding Korean flavours to its instant and cup noodles range. Co-founded in 2021 by Bhuman Dani, Monish Debnath, and Soumalya Biswas, WickedGud is a D2C startup dedicated to unjunking India one kitchen at a time with a variety of healthy and indulgent food products. Its products are made using wholesome ingredients and are manufactured using innovative steaming and convection air drying (SCAD) technology. The Mumbai-based startup claims to have grown 5x in the past 24 months and operates through an omnichannel distribution network, with availability on all major quick commerce and e-commerce platforms and over 2,000 retail outlets across India including over 400 Reliance SMART Bazaar, Signature, and Freshpik stores.

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WickedGud, a brand supported by Shilpa Shetty and featured on Shark Tank India, has raised Rs 20 crore in funding led by Orios Venture Partners. The company offers healthy noodles, pastas, and chips and plans to use the capital to expand its distribution network, invest in branding and marketing, and enhance its product development. ZFunds, a wealthtech company based in Gurugram, has secured Rs 25 crore in seed funding led by Elevation Capital. The company aims to enhance mutual fund investing by empowering distributors with technology and tools. The funds will be used to improve ZFunds' technical capabilities, expand its training facilities, and extend its distribution network. ThunderPlus, an EV charging solutions provider, has partnered with Delta Electronics India to introduce fast chargers for electric two-wheelers and three-wheelers in India. The chargers, developed with Delta's 4kW rectifier modules, aim to support the growing EV ecosystem and meet the unique needs of gig workers, e-commerce players, and OEMs. LTIMindtree USA has announced a strategic investment in Voicing.AI, a startup focused on human-like voice capability with conversational and contextual intelligence. The partnership aligns with LTIMindtree's strategy of AI in everything and everything for AI. Capgemini has completed its acquisition of Syniti, an enterprise data management software and services company. The partnership will enhance Capgemini's data-driven digital core business transformation services, particularly large-scale SAP transformations. Zepto, a quick commerce platform, has expanded its services to Uttar Pradesh, starting with Lucknow and Kanpur. The platform offers 10-minute deliveries of everyday essentials and aims to redefine convenience shopping for the digitally savvy consumers in the state. Delhivery, a logistics and supply chain services provider, has integrated Amazon into its ecommerce logistics solution, Delhivery One. The integration enhances Delhivery's capabilities, making it a comprehensive solution for sellers across major channels, including Shopify and WooCommerce.

Exclusive: Country Delight raises $9 Mn through debt and equity

EntrackrEntrackr · 1y ago
Exclusive: Country Delight raises $9 Mn through debt and equity
Medial

Dairy brand Country Delight has raised Rs 76 crore ($9 million) through debt and equity from Alteria Capital. This is the second funding for the Gurugram-based company this year. The board at Country Delight has passed a special resolution to issue 70,000 debentures at an issue price of Rs 1,00,000 each and 3,160 Series E1 CCPS at an issue price of Rs 21,045 each to raise Rs 76.65 crore, its regulatory filing accessed from RoC shows. In January, Country Delight raised 20 million in its series E round from Temasek, Seviora Capital, Venturi Partners, and others. The company is close to becoming a unicorn as it was valued at around $820 million in the last equity round. It has raised around $175 million to date. Launched by Chakradhar Gade and Nitin Kaushal, Country Delight provides a range of dairy products, bakery goods, poultry, and farm produce to its customers. The company sources its products directly from dairy farms and caters to customers in 15 cities including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune. As per startup data intelligence platform TheKredible, Orios Venture Partners was the largest stakeholder in Country Delight with 21.35% stake followed by Matrix and Elevation with 16.59% and 9.38% stake respectively. In February, Orios Venture Partners made a partial exit from Country Delight by selling 3% stake for around Rs 225 crore. Orios sold its stake to Temasek-backed asset management group Seviora. As per media report, Country Delight’s operating revenue stood at Rs 650 crore in the first half of the ongoing financial year (FY24). In FY23, its revenue was estimated at around Rs 900 crore against Rs 542.6 crore in FY22. The firm is yet to report FY23 numbers officially. In January, Country Delight’s competitor Akshayakalpa Organic raised $12 million in its Series C round led by A91 Partners. The firm is in talks to close a larger round to the tune of $25 million.

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