Direct-to-consumer snacks and instant foods maker Adukale has secured Rs 11 crore in a funding round led by venture fund Force Ventures, according to ETtech report.
The funds will primarily be used for expansion of the company’s offline presence, its chief growth officer, Vinay Gopinath, told ET.
Adukale, founded in 2009, sells a variety of snacks and instant food ingredients for dishes like dosa, idli and poha. With the latest funding round, the firm has raised more than Rs 16 crore.
Chief executive Bharat Kaushik said the company runs more than 20 exclusive stores and is present in more than 1,200 supermarkets and other retail stores.
Gopinath said the company is looking to open another 12 stores in the next 14 months, and expand to 2,500 supermarkets and retail stores in that time period.
The latest funding round also saw participation from investors like Anya Ventures, run by Anvitha Prashanth, Subrata Mitra, partner at Accel, and Radhika Pandit, the wife of Kannada actor Yash, the firm said.
“Even though quick commerce provides great growth and lower CACs (customer acquisition cost), it also has a lot of costs like commissions…,” Kaushik said. “For long-term profitability, having a healthy mix of offline and online presence will be essential (sic).”
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