WickedGud, a direct-to-consumer (D2C) brand making healthy food and snack alternatives has raised $250,000 in additional growth funding from GetVantage, which is the country’s largest alternative financing platform for e-commerce entrepreneurs and small and medium enterprises (SMEs).
The latest round of funding comes close on the heels of the start-up raising Rs 2.25 crore from fitness evangelist, actor, entrepreneur, and serial investor Shilpa Shetty. The start-up has also appeared on the second season of Shark Tank.
WickedGud makes healthy pasta and noodles that are 100 per cent maida-free, oil-free, and MSG-free. These products are available across online marketplaces and it is on track to launch three new product categories over the next 18 months—malted drinks, sweet spreads, and popped chips.
The additional growth funding will be invested in marketing, product expansion, and retail distribution to achieve fivefold growth in net revenues in FY24, despite already growing net revenues 3X over the past 12 months.
It also plans to exponentially increase its retail footprint to 2,000+ retail stores across India through its distribution partner network.
Incidentally, WickedGud products are made using wholesome, mom-approved ingredients such as wholewheat flour, lentils, brown rice, chickpeas, oats, and millets and are manufactured using innovative steaming and convection air drying (SCAD) technology, fostering sustainable food habits and resulting in a superior macronutrient profile when compared to legacy brands.
“My previous experience at TGL (The Good Life Company), along with a strong founding team at WickedGud, gives me the conviction to build a robust distribution network across the country, that will drive the next phase of our growth,” said Bhuman Dani, Founder & CEO of WickedGud.
Bhavik Vasa, Founder & CEO of GetVantage, said the D2C start-up boasts of strengths like extensive market knowledge and ability to identify opportunities. “At GetVantage, we are thrilled to support their strong early fundamentals, exciting growth roadmap, and vision to unjunk India one kitchen at a time,” said Vasa. In less than 24 months, GetVantage has amassed one of the largest consumer portfolios in India, having facilitated funding for over 300 D2C brands.
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