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Business Standard
07-07-2025
- Business
- Business Standard
Clean-label food startup Khetika raises ₹154 crore for expansion
Clean-label food startup Khetika on Monday said it has raised ₹18 million, or about Rs 154 crore, from a clutch of investors for expansion. Narotam Sekhsaria Family Office and Anicut Capital, along with existing investors Incofin India Progress Fund, Rajasthan Gum, and Shree Ram India Gums participated in the funding round, a statement said. The company, which aims to make preservative-free food accessible to every Indian household, plans to use the funds to fuel growth, brand building and operational expansion, the statement said, adding that it will also provide secondary exit to early investors. The Mumbai-based company sells products through e-commerce platforms and large retail stores only, and is aiming to expand into new cities and build teams across innovation, marketing, and operations. The company's co-founder and chief executive, Prithwi Singh said at a time when the Indian food sector is grappling with "adulteration and high use of harmful chemicals" Khetika procures directly from farmers and has a differentiated product and supply chain ecosystem. He added that the company has had a remarkable growth in the past, and is now "aiming to scale by 10X over the next three years". "We believe the Indian Food space is set for transformation with more consumers preferring healthy and clean food," Narotam Sekhsaria Family Office's head of private investments Narayanan Venkitraman said.
Time of India
07-07-2025
- Business
- Time of India
Healthy food startup Khetika raises $18 million for expansion
Academy 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 round also saw participation from existing investors such as Incofin India Progress Fund, Rajasthan Gum Pvt. Ltd. and Shree Ram India Gums to cofounder and chief executive Prithwi Singh, 70% of the funding round comprised primary capital, while the remaining was secondary 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 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 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 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 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.'
Time of India
11-06-2025
- Business
- Time of India
Garuda Aerospace raises $1 million from Narotam Sekhsaria Family Office, others
Drone startup Garuda Aerospace , backed by former Indian cricket team captain Mahendra Singh Dhoni, has raised $1 million in a funding round from the Narotam Sekhsaria Family Office (NSFO). The round also saw participation from existing investors, including WFC (We Founder Circle). This comes after the $12 million funding round in April. The funds will be used for scaling up manufacturing capacity from the current 8,000 drones annually to between 12,000 and 15,000 units. It will also invest in accelerating research and development (R&D) efforts and expand its export presence to 50 countries by the year-end. According to founder and chief executive Agnishwar Jayaprakash, the company is currently generating revenue from India but plans to expand to the US and Africa, among other regions. 'We are also developing a lot of components that we are manufacturing in-house to reduce the reliance or dependencies on foreign imports. And more importantly, we've also focused a bit more on the software and the automation of the drones,' he told ET. Founded in 2015, the Chennai-based company manufactures more than 30 types of drones and offers various services, including drone-as-a-service ( DaaS ) and pilot training. The company operates a fleet of 400 drones and 500 pilots across 84 cities. It has served over 750 clients, including the Tatas, Adani, Reliance, Swiggy , Flipkart, Delhivery and L&T, as well as government agencies. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Garuda Aerospace generates revenue through two main streams: one, from the sale of its drone products and second, through drone services . It also provides training services. The company has sold over 4,000 drones. 'Almost 70% of our revenue comes from agriculture, as it represents the highest utilisation of drone services in the country. While agriculture will remain a major source, this year we'll also have defense orders and global industrial services contracts, which will contribute to our revenue,' he said. The startup has raised around $21 million in total to date. According to Jayaprakash, Garuda Aerospace posted a revenue of Rs 123 crore for the fiscal year ended March 2025, up from Rs 109 crore in FY24. The company has been profitable for the last four years, he added.
