Pushp, an Indore-based spices and condiments brand, announced that it has raised Rs 125 crore from A91 Partners, the private equity fund.
Earlier, the company had raised its first institutional financing from Sequoia India worth $350 million.
Pushp plans to use the fund infusion to expand its distribution network, bulk up its existing sales team, and drive marketing to strengthen its brand across India after being confined largely to Madhya Pradesh since inception.
Surendra Surana, cofounder of Pushp, said in a statement, “The Indian consumer is focused on taste, quality and reliability, and our sharp focus on these factors has helped us build deep trust with customers to become one of the top brands in the spices category. We are thrilled about the next phase of growth as we build Pushp into a leading spices brand in the country.”
“Usually, every region or state has a local leader in this segment. But we believe that Pushp, through its relentless focus on quality and product innovation, has the potential to go from being a local leader in Madhya Pradesh to being a significant national player,” said Abhay Pandey, partner at A91 Partners.
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