Through JM Financial India Growth Fund III, the spice brand Zoff has received funding totaling Rs 40 crore ($4.8 million) from JM Financial Private Equity.
Aman Gupta, co-founder of boAt, had previously provided funding to the business through Shark Tank India.
According to a press release from Zoff, the money raised will be utilized to add new products to the line, grow the company into new markets like ready-to-cook foods, condiments, cooking pastes, and seasoning kits, and improve offline distribution through modern trade channels, general trade, and other retail stores.
Zoff, which was co-founded in 2018 by Ashish and Akash Agrawal, is a premium spice company. The company sells whole food items, dry fruits, and spices that have been carefully chosen. Its main goal is to supply premium ingredients that improve the flavor and nutritional value of food products made by consumers.
The company, headquartered in Raipur, claims to have a fully automated manufacturing unit that uses cold grinding technology to maintain the flavor and fragrance of raw spices. The multi-layered ziplock packaging, according to the brand, keeps the spices fresh for a longer amount of time.
According to Zoff, the company has built a strong online presence by concentrating on speedy commerce and empowering the spice market quickly, generating profitable revenue over time. The business wants to expand its presence in tier-II and tier-III cities.
Additionally, the company states that it faces competition from major brands such as MDH and Everest.
