Healthy food startup Khetika raises $18 million for expansion
Empower your mind, elevate your skills
Mumbai-based healthy food company Khetika has raised $18 million (about Rs 153 crore) in a funding round from Narotam Sekhsaria Family Office and Anicut Capital.The round also saw participation from existing investors such as Incofin India Progress Fund, Rajasthan Gum Pvt. Ltd. and Shree Ram India Gums Ltd.According to cofounder and chief executive Prithwi Singh, 70% of the funding round comprised primary capital, while the remaining was secondary funds.The capital will be used for brand building, geographical expansion , introduction of new clean-label food products and setting up manufacturing facilities.'We'll also be entering international markets, targeting regions like Europe, the Middle East and the US,' Singh told ET. 'The international market's demand for Indian products is also increasing, but at the same time, these products need to meet very high quality standards. I believe we are well-positioned to deliver on that, and we want to capture this opportunity.'Founded in 2017, the company operates in the staples category, offering a wide range of preservative-free food products including batters, spices, chutneys, millet-based staples, makhana, dry fruits and rice. It claims that its products are developed through traditional stone-ground processes.According to Singh, Khetika sources directly from farmers in 14 states across India, including Rajasthan, Gujarat, Punjab, Haryana, Andhra Pradesh and Bihar. It currently has four manufacturing facilities in the country.The company offers its products across all major ecommerce and quick commerce platforms. It also uses its own distribution network, SuperZop, to supply products to traditional kirana stores.'These quick commerce channels contribute around 25% to the company's sales today and are the fastest growing for us,' Singh said, adding that the majority still comes from kirana stores. ET had earlier reported that increasing consumer awareness in India, higher disposable incomes and expansion of quick commerce were driving growth for health-focused food brands.The company generated a revenue of around Rs 147 crore in 2024-25, up from Rs 160 crore in the previous financial year.'We want to take the company to a turnover of Rs 2,000 crore in the next three years. The growth will come from channel expansion, product launches and investments in brand awareness,' Singh said.Commenting on the investment, Adithya Bharadwaj, principal, Anicut Capital said, 'Indian households increasingly demand clean-label, health-focused foods that deliver on nutrition and transparency—precisely what Khetika provides.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
7 minutes ago
- Economic Times
Swiggy shares rebound 28% from 52-week low ahead of Q1 earnings. What analysts say?
Swiggy shares have staged a sharp rebound ahead of the Q1FY26 earnings season, rallying 27.9% from their all-time low of Rs 297 recorded on May 13 on the NSE. The stock has gained investor traction in recent weeks. ADVERTISEMENT This may be fueled by expectations of strong revenue growth in its core food delivery business and improved performance in its quick commerce vertical, Instamart. Domestic brokerage firm Kotak Institutional Equities has downgraded the stock to an 'ADD' rating and raised its sum-of-the-parts-based fair value estimate to Rs 420 from Rs 415 earlier. However, it also noted that the stock is up by 25% from its May bottom and flagged this as a reason for its rating downgrade. 'The recent stock price increase results in a downgrade in rating to ADD,' the brokerage Q1FY26, Kotak expects Swiggy to report a 19% year-on-year growth in food delivery gross merchandise value (GMV), outpacing Zomato's estimated 18% GMV growth for the same period. Swiggy's food delivery GMV is projected at Rs 81 billion, supported by a stable take-rate and steady demand trends. However, it expects a sequential contribution margin (CM) decline of 30 basis points to 7.5%, driven by increased restaurant commissions, higher platform fees, and elevated delivery costs due to the onset of the monsoon. ADVERTISEMENT While food delivery remains stable, Instamart's performance continues to weigh on profitability. Kotak estimates Instamart's GMV to rise 113% year-on-year, with revenue growth of 129% year-on-year. Also read: Jane Street shows dangers of finance as shampoo ADVERTISEMENT Despite this surge, Instamart is expected to report a contribution margin of -3.4% and an adjusted EBITDA loss of Rs 8.5 billion for the quarter, broadly in line with the Rs 8.4 billion loss recorded in brokerage noted, 'We expect Instamart to show meaningful improvement in EBITDA only in FY2027,' adding that FY2026 will likely be a year of 'depressed profitability for Instamart on account of steep store additions and high competitive intensity.' ADVERTISEMENT Another brokerage firm, ICICI Securities, has also highlighted similar trends, projecting food delivery GMV growth of 18.5% year-on-year and 9.8% quarter-on-quarter for Q1FY26, with an adjusted EBITDA of Rs 2.2 billion and EBITDA margin of 2.7% of Instamart, it expects GMV to increase 110.1% year-on-year and 22.6% sequentially, but pegs adjusted EBITDA loss at Rs 9.1 billion with a negative margin of 15.8%.Overall, the brokerage expects adjusted revenue to grow 8% quarter-on-quarter and 46.6% year-on-year, with adjusted EBITDA loss widening to Rs 7.9 billion from Rs 7.3 billion in Q4FY25 and Rs 3.5 billion in Q1FY25. ADVERTISEMENT ICICI Securities also noted that 'Swiggy should marginally gain share in food delivery business,' and observed that e-commerce volume growth is accelerating from the company's lows of FY24/25.'We remain bullish on Swiggy,' added ICICI the technical front, Ajit Mishra, SVP of Research at Religare Broking, noted, 'Swiggy has been witnessing a rebound after spending nearly six months in a corrective phase.'He added that following a breakout in June, the stock faced resistance near the Rs 395 level and is currently trading close to its neckline support. Also read: Vedanta shares down 2% in 1 year but giving 7% dividend. Is it enough to buy the stock? 'It is crucial for the stock to hold the Rs 350–370 zone to maintain a positive bias, while the Rs 410–440 zone is expected to act as resistance. Participants should align their positions accordingly,' Mishra said. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
7 minutes ago
- Economic Times
Who is Sabih Khan, the Indian-origin executive named Apple's New chief operating officer?
Synopsis Apple has announced Sabih Khan as the new Chief Operating Officer, succeeding Jeff Williams later this month. Khan, previously Senior Vice President of Operations, has been instrumental in shaping Apple's global supply chain and sustainability efforts. Williams will continue to oversee design and health initiatives before retiring, ensuring a smooth transition under Khan's leadership. Sabih Khanhas been a central figure in shaping Apple's global supply chain for decades. Apple has announced that Sabih Khan, the company's longtime senior vice president of Operations, will succeed Jeff Williams as Chief Operating Officer later this month. Williams, who has worked at Apple for nearly three decades, will continue reporting to CEO Tim Cook and overseeing Apple's design team and health initiatives until his retirement later this year. The Indian-origin executive has been a central figure in shaping Apple's global supply chain for decades. Having joined Apple's procurement group in 1995, Khan rose through the ranks to become senior vice president of Operations in 2019. Over the past six years, he has led Apple's global supply chain, overseeing planning, procurement, manufacturing, logistics, and product fulfillment. He has also overseen Apple's supplier responsibility programs that focus on worker protection, education, and environmental sustainability. 'Sabih is a brilliant strategist who has been one of the central architects of Apple's supply chain,' said Tim Cook. 'He has helped pioneer new technologies in advanced manufacturing, expanded Apple's footprint in the U.S., and pushed forward our environmental goals — cutting Apple's carbon footprint by over 60 percent. Above all, Sabih leads with heart and integrity, and I know he will make an exceptional chief operating officer.' Khan's leadership has also played a vital role in advancing Apple's green manufacturing initiatives and in fostering partnerships with suppliers to reduce environmental impact. His contributions have been key to ensuring Apple's agility in the face of global challenges, such as supply chain disruptions and rising sustainability demands. Before joining Apple, Khan worked at GE Plastics as an applications development engineer and technical leader. He holds dual bachelor's degrees in economics and mechanical engineering from Tufts University and a master's in mechanical engineering from Rensselaer Polytechnic Institute. As Apple prepares for this leadership change, Cook emphasized that Khan is the ideal person to guide Apple's operations into the future: 'I have tremendous confidence in Apple's future under his leadership in this role.'
Hans India
7 minutes ago
- Hans India
Farmers to benefit from free horticultural plantations
Vijayawada: NTR district collector Dr G Lakshmisha on Tuesday urged farmers in the district to leverage the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for free fruit orchard cultivation, highlighting the potential for two to three times higher income from horticultural crops. He encouraged farmers to make the most of these government initiatives. A mega grounding mela for horticultural crop cultivation was held on Tuesday at Gosaveedu of Gampalagudem mandal, organised by the Mahatma Gandhi National Rural Employment Guarantee Scheme – District Water Management Agency (DWMA). Collector Lakshmisha launched the programme by planting mango saplings on 1.15 acres of land belonging to Immadi Nagamani. Addressing the gathering, Collector Lakshmisha stated that a Maha Yagnam for poverty eradication is underway in the state. He instructed field-level officials and staff, including MPDOs, MGNREGS APOs, Gram Sachivalayam Horticultural Assistants, Agriculture Assistants, and Field Assistants, to play a crucial role in encouraging farmers towards horticultural crop cultivation. He explained that under MGNREGS, farmers receive free saplings and financial assistance for maintenance. Collector Lakshmisha elaborated on the eligibility for small and marginal farmers (owning less than five acres) to cultivate a variety of horticultural crops, including mango, guava, lemon, sapota, pomegranate, dragon fruit, coconut, oil palm, apple bear, drumstick, jasmine, and rose. He provided examples of the financial assistance available: for mango cultivation, farmers can receive approximately Rs 1,09,950 per acre in various forms; for guava, around Rs 1,46,971 per acre; and for cultivating 1,600 jasmine plants per acre, nearly Rs 1,85,396 in aid. Pomegranate cultivation offers support of Rs 2,16,417 per acre, while dragon fruit receives Rs 2,00,714 for half-an -acre. Tiruvuru RDO K Madhuri, DWMA PD A Ramu, Assistant PD Parthasarathi, DWMA District Plantation Manager K Usha, and other officials participated.
