In a significant stride towards revolutionizing India's snack industry, WickedGud, a direct-to-consumer (D2C) food brand, has secured ₹20 crore in a funding round led by Orios Venture Partners, with participation from Asiana Fund and existing investors. This infusion of capital is set to propel the company's mission of offering healthier alternatives to traditional snack foods.
The Genesis of WickedGud
Founded in 2021 by serial entrepreneur Bhuman Dani, WickedGud emerged from a vision to "unjunk" India by providing indulgent yet nutritious food options. Dani, an alumnus of BITS Pilani and INSEAD, previously co-founded TGL Co., a premium tea and coffee startup, which he successfully exited in 2021.
Innovative Offerings
WickedGud's product line includes noodles, pasta, and chips made using innovative Steaming and Convection Air Drying (SCAD) technology. This method ensures that the products are 100% maida-free, oil-free, and free from harmful chemicals, aligning with the brand's commitment to health without compromising taste.
Strategic Partnerships and Celebrity Endorsement
The brand's appeal caught the attention of Bollywood actress and fitness enthusiast Shilpa Shetty, who invested ₹2.25 crore in May 2023. Shetty's involvement not only provided financial backing but also amplified the brand's visibility and credibility in the health food sector.
Market Expansion and Future Plans
With the latest funding, WickedGud plans to expand its distribution network, enhance branding efforts, and strengthen its core team. The company aims to introduce new products, including Korean flavors in its instant and cup noodle lines, tapping into popular culinary trends. Additionally, WickedGud is broadening its retail presence through partnerships with platforms like DMart, Zepto, Blinkit, and Instamart.
Investor Confidence
Rehan Yar Khan, Managing Partner at Orios Venture Partners, expressed confidence in WickedGud's trajectory, noting the brand's potential to lead in the healthy quick foods category. He highlighted the growing instant noodles market in India, projected to reach ₹30,000 crore by 2028, and emphasized WickedGud's position as a frontrunner offering healthier options.
Conclusion
WickedGud's journey reflects a strategic blend of innovative product development, strategic partnerships, anding of consumer demand for healthier food alternatives. With robust investor support and a clear vision, the company is poised to make significant strides in redefining India's snacking habits.
Source: Economic times