Clean-label food company Khetika raises $18 M from Anicut Capital, others
A new funding round led by Anicut Capital and the Narotam Sekhsaria Family Office has raised $18 million (Rs 153 crore) for the clean-label food company Khetika, based in Mumbai.
Existing investors like Rajasthan Gum Pvt. Ltd., Shree Ram India Gums Ltd., and Incofin India Progress Fund also participated in the round.
Seventy percent of the funding round was primary capital, with the remaining portion being secondary, according to an ET report.
The money raised will go toward product development, expanding both domestically and abroad, building a brand, and establishing more production facilities. As the demand for premium Indian food products rises in international markets, the company is currently getting ready to enter the US, Europe, and the Middle East.
Khetika, which was founded in 2017, is a staples company that sells batters, spices, chutneys, millet-based foods, makhana, dry fruits, and rice without the use of preservatives.
The business sources directly from farmers in 14 Indian states, including Andhra Pradesh, Gujarat, Punjab, Haryana, Bihar, and Rajasthan. At the moment, it operates four production plants in India.
In addition to using a specialized B2B supply network called SuperZop that ships to conventional kirana stores, Khetika uses an omnichannel distribution model, selling through popular e-commerce and quick commerce platforms.
Kirana stores continue to be the biggest source of income, and quick commerce, which accounts for 25% of total sales, is the brand’s fastest-growing market.
