In a significant move to boost innovation and expansion, Scandalous Foods, a pioneer in the Indian sweets industry for restaurants and catering, proudly announces the completion of its pre-seed funding round, securing an impressive total of INR 3 crore.
The recent infusion of INR 1.4 crore from the Indian Angel Network (IAN), led by investors KRS Jamwal and Mrunal Jhaveri, along with notable angel investors Arjun Vaidya of V3 Ventures, Ajay Mariwala, MD of VKL and FSIPL, and Sushma Gupta, marks the successful completion of this funding phase.
Achieving a financial milestone, Scandalous Foods strategically utilized previous funds to establish a larger production facility, paving the way for an ambitious expansion. With upgraded production capabilities, the company is ready to extend its presence in the food service industry and establish a strong HoReCa base in key markets, including Mumbai and Nasik.
Sanket S., Founder of Scandalous Foods, shared his enthusiasm: “This funding round is not just about financial growth but a testament to our belief in our vision to redefine the Indian sweets landscape in the post meal consumption space. With the additional INR 1.4 crore, we are better equipped than ever to innovate, expand, and cater to the growing demands of our diverse clientele. Our journey from a nascent startup to a trailblazer in the industry has been exhilarating, and this is just the beginning.”
Mrunal Jhaveri, founding partner at Ice.vc and leading the round at Ian with KRS Jamal, expressed confidence in the venture, said, “Scandalous Foods stands out with its unique proposition in the Indian sweets segment, especially in the B2B space. Their approach to combining tradition with innovation is precisely what the industry needs. We are excited to support Scandalous in their journey towards becoming a leader in the food service industry. Their vision aligns with our commitment to backing businesses that have the potential to scale and make a significant impact.”
Scandalous Foods reinforces its commitment to quality and scalability with a strategic investment in an expanded production unit. The company’s dedication to product excellence and customer satisfaction aligns with its ambition to revolutionize the Indian sweets scene. Through partnerships with key accounts nationwide, Scandalous Foods aims to improve its offerings and accessibility, cementing its market position.
Moving ahead, Scandalous Foods maintains its dedication to providing outstanding Indian sweets that cater to changing consumer preferences. With the successful completion of this funding round, the company is ready to enter its next growth stage, ensuring the delivery of more innovative and delightful sweets to tables throughout India.
Operating primarily through cloud kitchens, Scandalous Foods intends to broaden its reach into diverse food service sectors such as wedding catering, corporate catering, and large-format commissaries. Additionally, the brand plans to introduce mithai bars and sachets, catering to spontaneous indulgence shortly.
