Bengaluru-based food-tech startup Go DESi recently announced that it has raised ₹4.5cr from Delhi-based venture capital firm Rukam Capital. Rukam Capital is known for investing in early-stage consumer products and services companies. The funding round also saw participation from AngelList and Upaya Social Ventures.
The company plans to use these funds for operation and geographical expansion, and launch a larger portfolio of products, said the company in a statement.
Talking about the funding, Vinay Kothari, Founder of GO DESi said, “Our growth in the last two years has shown the consumer acceptability of DESi flavours and formats at the point of sale. Convenient price points have helped us generate quick trials and adoptions in both online and offline channels. GO DESi products are free of all preservatives. We believe in the mantra “EAT GOOD, DO GOOD.”
He further added, “GO DESi, is our attempt to revive not only traditional tastes but also our rich heritage of homemade recipes & memories associated with those tastes. We plan to utilise the funds to expand our reach, build a stronger team, and add to the portfolio of our products.”
Commenting on the investment, Rukam Capital’s Managing Partner, Archana Jahagirdar said, “GO DESi has exhibited fast-paced growth in the first round of seed funding. Their ability to revive traditional flavours in their products and generate income opportunities in rural areas is an attractive business model with significant market potential. Through this investment, GO DESi will get the support required to scale the business and play a significant role in reviving the traditional tastes of India in the packaged food space.”
GO DESi was founded in 2018 at Bengaluru by Vinay Kothari, a former ITC Limited professional. GO DESi is a packaged food brand inspired by local flavours and regional formats, entirely manufactured at micro-units in rural and semi-urban areas. Currently, the startup operates in the confectionery/point of sale category.
Earlier in 2018, it had raised ₹1Cr through a funding round led by Lead Angels Network. Co-founder of Sify, R Ramaraj also participated in the round.
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