Spice Story, a business established in the city, has secured an undisclosed pre-series funding round. Agility Ventures, Maxar.vc, Nafa Capital, and select FMCG industry veterans Anupam Bokey and Anand Dhodapkar announced the launch of a round fund. According to a statement from the firm, the funds will be utilised to enhance the distribution network and continue to grow scale on the internet platforms. The brand has previously raised a seed round in January 2021. Since then, the firm has expanded thrice, with a goal of growing 25fold in the following three years.
Prashant Narang, Co-founder of Agility Ventures, said, “We are excited to support Spice Story in the next chapter of their journey. When we consider potential food industry investments, we look for brands that can connect with the dietary habits of its consumers. We are optimistic that Spice story will continue to generate great traction with the variety of their products.”
According to the statement, the brand has already sold half a million units this year and is on track to sell 1.5 million units next fiscal year.
