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Zoff Foods raises $2 Mn from JM Financial PE

Entrackr

Entrackr · 1d ago

Zoff Foods raises $2 Mn from JM Financial PE

Snippets Zoff Foods raises $2 Mn from JM Financial PE Shark Tank featured spice brand Zoff Foods has raised $2 million in fresh funding from JM Financial Private Equity. Zoff has raised around $7 million of funding till date, having JM Financial India as its lead investor. The proceeds will be used to strengthen its ecommerce business and expand its offline distribution. The funding will also help the brand tap into the growing demand for branded packaged spices in India. Co-founded in 2018 by Akash and Ashish Agrawal, Zoff specializes in high-quality spices. The brand offers a curated selection of spices, dry fruits, and whole food products. As per TheKredible, Zoff’s revenue from operations grew by 11% to Rs 103 crore in FY25 from Rs 93 crore in FY24. The company posted a loss of Rs 17 crore in FY25, as compared to a loss of Rs 20 lakh in FY24. As per market research, estimates suggest that the Indian spices market could grow from about Rs 2.2 lakh crore in 2025 to Rs 5.2 lakh crore by 2034 as organised brands capture a larger share of the market. The company also claims that it competes with other big brands like Everest and MDH.

Related News

JM Financial PE bets on spices brand

VCCircle

VCCircle · 1y ago

JM Financial Private Equity has made a $4.7 million investment in Zoff Foods, an online platform selling spices and dry fruits. This investment marks JM Financial PE's entry into the e-commerce sector. Zoff Foods aims to use the funding to expand its product offerings, enhance its technology infrastructure, and strengthen its market presence.

ZOFF Foods raises $2 million in Pre-Series B round from JM Financial Private Equity

StartupTalky

StartupTalky · 6h ago

ZOFF Foods raises $2 million in Pre-Series B round from JM Financial Private Equity

ZOFF Foods, a spice brand from Raipur, secured $2 million in a Pre-Series B funding round led by JM Financial Private Equity, along with Aman Gupta from boAt. The funding will bolster offline distribution, marketing, and sales, and accelerate expansion in India. ZOFF Foods, known for purity and hygiene in spice production, aims to deepen its presence across general retail and e-commerce while expanding its product offerings in the competitive spices market.

Shark Tank India-featured Zoff raises ₹40 crore in funding

Inshorts · 1y ago

Shark Tank India-featured Zoff raises ₹40 crore in funding

Shark Tank India-featured spices brand Zoff has raised Rs 40 crore in funding from JM Financial Private Equity through JM Financial India Growth Fund III. Founded in 2018 by brothers Akash Agrawal and Ashish Agrawal, The startup offers a curated selection of spices, dry fruits, and whole food products. It previously raised funding from Boat's Co-Founder & CMO, Aman Gupta.

Spice brand Zoff raises Rs 40 Cr in Series A from JM Financial

Entrackr

Entrackr · 1y ago

Spice brand Zoff has secured Rs 40 crore ($4.8 million) from JM Financial Private Equity through JM Financial India Growth Fund III. The company had previously secured funding in Shark Tank India from boAt’s co-founder Aman Gupta The proceeds will be used to launch new products and expand the business into new segments such as ready-to-cook, condiments, cooking pastes & seasoning kits and strengthen its offline distribution network through general trade, modern trade channels and other retail outlets, Zoff said in a press release. Co-founded in 2018 by Akash and Ashish Agrawal, Zoff specializes in high-quality spices. The brand offers a curated selection of spices, dry fruits, and whole food products. It focuses on providing high-quality ingredients that elevate consumer culinary creations’ taste and health benefits. According to the Raipur-based company, it has a fully automated manufacturing unit which utilizes cold grinding technology to preserve the flavor and aroma of raw spices. The brand claims that its multi-layered ziplock packaging ensures the spices remain fresh for an extended period. Zoff says that it has created a robust online presence by focusing on quick commerce and empowered spices market in a short period of time, registering a profitable revenue over the years. The company is looking to penetrate deeper into the tier-II and tier-III cities. The company also claims that it competes with other big brands like Everest and MDH.

JM Financial PE in talks to invest in Namita Thapar-backed consumer brand

VCCircle

VCCircle · 11m ago

JM Financial Private Equity is negotiating to invest in a consumer brand supported by Namita Thapar, executive director of Emcure Pharmaceuticals. JM Financial Group, a Mumbai-based financial services firm with a focus on private equity, private credit, debt, and mutual funds, is involved in this potential investment. The information comes from two individuals aware of the proceedings, while the firm was founded by Nimesh Kampani.

Inside Zoff’s Cookbook: How This Spice Brand Achieved 4X Revenue Growth

Inc42 · 1y ago

Akash Agrawal, an MBA in marketing, was running his family's steel business in Raipur when he realized the potential of the global spice market. Seeing a lack of innovation in the industry, he decided to launch his startup, Zoff Foods, to offer value-added spice products. Recognizing the need for readily available items, Zoff Foods sells on various marketplaces and has seen significant growth, with monthly turnover reaching INR 5-6 Cr. Agrawal believes that tapping into general trade aggressively will be key to the company's future success.

JM Financial PE invests in farm equipment maker Balwaan Krishi

VCCircle

VCCircle · 1y ago

JM Financial PE invests in farm equipment maker Balwaan Krishi

JM Financial Private Equity, the PE arm of Mumbai-based investment banking firm JM Financial, has invested INR 40 crore ($4.8 million) in Balwaan Krishi, a Jaipur-based farm equipment manufacturer. The investment was made through the third fund of JM Financial, India Growth Fund III. Balwaan Krishi provides small farm equipment to farmers and plans to use the funding to expand its distribution network, drive brand-building initiatives, and meet working capital requirements. The company aims to address challenges in pre-sales advisory, product quality, and after-sales service for farmers. This investment is part of JM Financial's focus on the agritech sector.

JM Financial PE invests Rs 45 crore in Energy Beverages

IndianStartupNews

IndianStartupNews · 1y ago

JM Financial PE invests Rs 45 crore in Energy Beverages

JM Financial Private Equity has invested INR 45 crore in Energy Beverages Pvt. Ltd., the company behind the bottled water brand "Clear." This funding, sourced from JM Financial's Fund III, aims to support brand development, expand production capacities, and enhance the distribution network across India. Clear, founded by entrepreneur Nayan Shah, has gained traction in the HoReCa sector and recently acquired a majority stake in Kelzai Secrets Pvt Ltd. It also introduced a new natural mineral water brand called NubyClear. JM Financial recognizes the growth potential in the Indian bottled water market driven by increased health consciousness and hygiene concerns.

Fintech Startup Propelld’s NBFC Edgro Raises $25 Mn In Maiden Debt Round

Inc42 · 1y ago

Fintech Startup Propelld’s NBFC Edgro Raises $25 Mn In Maiden Debt Round

Education-focused fintech startup Propelld has raised $25m in debt funding for its non-banking financial company (NBFC), Edgro Finance. The funding will enable Edgro to offer education loans. The round saw participation from nine lenders, including Credit Saison India, AU Small Finance Bank, InCred Financial Services and Northern Arc Capital. Propelld, founded in 2019, provides education loans to borrowers through its online channel. The startup assesses the eligibility of students for a loan based on their learning capabilities and employment potential. Propelld has lending partnerships with Avanse Financial Services, Aditya Birla Capital and JM Financial.

Asia Partners raises $474 mn for second PE fund

VCCircle

VCCircle · 1y ago

Asia Partners raises $474 mn for second PE fund

Singapore-based private equity firm, Asia Partners, has raised $474 million for its second fund. The firm focuses on investing in Southeast Asian tech companies. New investor, the International Finance Corp, joined the fund, along with returning investors such as the International Development Finance Corp and Financial Investments Corp from the US, Deutsche Investitions- und Entwicklungsgesellschaft from Germany, and Generation Capital from Canada. Asia Partners' assets under management now total $1 billion. The firm's portfolio includes ShopBack and Carsome, according to its website.

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