Specialty South Indian food startup VS Mani & Co raises $370,000 in Angel Funding round
- ByStartupStory | April 27, 2022
Specialty south Indian food startup VS Mani & Co on 26th April, said it has raised $370,000 (INR 2.5 crore) in an angel funding round.
VS Mani & Co said in a statement that angel investors, including Anupam Mittal, Founder and CEO of People Group; Haresh Chawla, Partner, True North Co; Ashish Hemrajani, Founder & CEO, BookMyShow; Rajan Navani, Founder & CEO JetSynthesys; Sidharth Rao, Group CEO DentsuMB; actor-producer Rana Daggubati and Sattva Group’s family office, participated in the funding round.
The Bengaluru-based startup said it will utilise the fund to take its online-first business to various other channels. The startup will also be using the funds to expand the product line to include south Indian snacks as well
Talking about the reason behind the startup, GD Prasad, VS Mani & Co-Founder, said “Many south Indian foods are popular across India, but there are hardly any pan-India players who have consolidated this opportunity into a comprehensive, ready-to-consume range of south Indian delicacies. We want to create a ‘national south Indian brand”
Yashas Alur, Co-Founder & Head of Growth, said that currently almost 90% of VS Mani & Co’s sales come from their own channel. Yashas added that the startup has acquired customers profitably – and with healthy repeat rates, have also proven that they have a solid product.
The startup also said that it has plans to scale via online marketplaces and offline retail not just in India but also abroad, where there exists a significant diaspora whose food needs require some catering.
Commenting on the investment in the company, Anupam Mittal, one of the investors in the brand, noted that VS Mani & Co strikes a chord with its brand story, transporting consumers to the quintessential South Indian home of GD’s childhood years. Mittal added that the startup is well placed to grow into a major leader in the specialty South Indian foods segment, one where there are hardly any national players. VS Mani & Co was founded by GD Prasad in 2020 and is a Bangalore-based FMCG company that offers South Indian packaged foods and beverages.
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