D2C brand CURRYiT raised Rs 4.5 crore in a seed funding round.
The round attracted notable investors such as RK Family Trust (Apollo Group), Tangent Advisors, Freeflow Ventures, and prominent angel investors, including Ramesh Damani (DMart group), Ajaya Jain, and others.
The company’s pre-money valuation was Rs 40 crore.
Founded by IIM alumni Richa Sharma and Nischal Kandula, CURRYiT offers India’s largest selection of cooking pastes. Their range includes curry pastes like Kashmiri Rogan Josh and Butter Masala, biryani pastes, ginger garlic paste, tomato purees, and instant tadka.
CURRYiT serves over 25,000 pin codes daily and has experienced more than 50% month-on-month growth on Q-commerce platforms.
“Clean delicious food is not merely a USP for us, it is a choice we would like consumers to make for tastier and healthier home cooked food. Current range of products available in the market are loaded with chemicals, preservatives, dehydrated vegetables, palm oil, hence compromised on both taste and quality,” the founders said.
With the new funds, CURRYiT plans to scale operations, boost brand marketing, and enhance distribution. They aim to quadruple their monthly revenue within the next six months.
“We aim to change this for the consumer. With this recent funding, we will double down on our production and marketing efforts to make CURRYiT the go-to brand for every Indian’s daily cooking need,” they added.
CURRYiT also prides itself on its world-class FDA and ISO-certified in-house manufacturing facility, which includes over 40 quality checks. This facility helps accelerate product launches while keeping costs low and benefiting from economies of scale.
Existing investors in CURRYiT include RPSG Capital Ventures, IIM Udaipur, and LBB. The Indian ready-to-cook and spices market is expected to grow at a compound annual growth rate (CAGR) of 15.7%, from $9.81 billion in 2022 to $42.17 billion by 2032.
