Go DESi Raises INR 41 Crore Led by Aavishkaar Capital to Fuel Expansion Plans

• ByStartupStory     |    May 2, 2024

Go DESi, a rapidly growing startup specializing in Indian packaged delicacies and sweets, has successfully raised INR 41 crore (approximately $4.9 million) in a recent funding round led by Aavishkaar Capital. This undisclosed fundraising round also saw participation from existing investors Rukam Capital, Roots Ventures, and DSG Consumer.

Founded in 2018 by siblings Vinay and Raksha Kothari, Go DESi has carved a niche for itself by commercializing traditional Indian snacks and confectionery items while concurrently empowering women across rural India. The inspiration for this venture struck Vinay during a vacation, where he was captivated by locally-made candies and fruit bars at a chai shop. This pivotal experience led to the inception of Go DESi, which has since scaled its operations significantly.

Vinay Kothari, Co-founder of Go DESi, expressed enthusiasm about the investment’s implications, stating, “The investment agreement with Aavishkaar Capital will enable Go DESi to increase its product portfolio, accelerate marketing, swiftly scale our geographic focus, and expand our distribution reach. This investment validates Go DESi’s sustainable culture and will play an important part in achieving our vision.”

Currently, Go DESi boasts a robust presence in over 40,000 retailers nationwide and has sold more than 15 million pieces of its products. The startup aims to leverage the freshly secured capital to further broaden its geographical footprint, diversify its product range, and enhance its operational capabilities.

Speaking about the startup’s vision and market potential, Divya Gupta, Investment Director at Aavishkaar, commented, “The company has built a strong brand reputation and a robust distribution engine in a short period of time. We feel the opportunity is tremendous, and the Go DESi team has all of the necessary elements to conquer India’s burgeoning confectionery industry.”

In addition to geographical expansion, Go DESi is focused on venturing into the confectionery segment and aims to continue its commitment to empowering women by employing more female talent in its workforce.

Vinay Kothari also revealed that Go DESi operates through an omnichannel model, offering its products both online and offline in southern India, while relying on fast commerce and online grocery applications in metropolitan areas like Mumbai and Delhi NCR.

With this latest funding injection and strategic backing from Aavishkaar Capital, Go DESi is poised to further disrupt the Indian snacks and confectionery market, offering consumers a delightful taste of India’s rich culinary heritage.

This funding round underscores investor confidence in Go DESi’s innovative approach and its potential to redefine the confectionery landscape in India.

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