In a seed round co-led by RK Family Trust, Tangent Advisors, and Freeflow Ventures, with participation from Ramesh Damani, Ajaya Jain, and others, cooking paste brand CURRYiT has raised Rs 4.5 crore.
In 2021, RPSG Capital Ventures, IIMU, and other investors helped CURRYiT raise $139K.
The additional funds will be used to expand operations, improve brand marketing initiatives, and fortify their distribution networks.
The Indian market for spices and ready-to-cook food is anticipated to expand at a compound annual growth rate (CAGR) of 15.7%, per market research.
CURRYIT, which Nischal Kandula and Richa Sharma co-founded in 2020, eliminates the problems associated with palm oil, dehydrated vegetables, chemicals, and preservatives. A variety of culinary pastes are available, such as curry pastes like those for Kashmiri rogan josh, butter masala, biryani pastes, tomato purees, ginger-garlic paste, and instant tadka.
The company, situated in Delhi, states that it has served over 25,000 pincodes daily and experienced a growth of over 50% month over month on Q-commerce platforms. The brand wants to increase its monthly revenue by four times in the next six months.
