Foodtech

Nurture Well Foods Secures INR 500 Mn Investment from India Inflection Opportunity Fund

• ByStartupStory     |    July 16, 2024

Nurture Well Foods Private Limited, a prominent manufacturer of biscuits and cookies, has successfully closed a private placement round, securing an investment of INR 500 million from the India Inflection Opportunity Fund (IIOF). This marks IIOF’s sixth investment in the last six months, reinforcing its commitment to supporting high-growth potential companies in India.

Sanidhya Garg, Director of Nurture Well, expressed his enthusiasm about the new partnership: “By leveraging our market expertise alongside IIOF’s substantial financial resources, we are strategically positioned to enhance shareholder value and foster sustainable growth. This partnership lays a strong foundation for generating long-term economic value and securing a prosperous future for all stakeholders involved.”

Founded in 2023 by Sanidhya Garg, Nurture Well has quickly made a name for itself in the premium cookies and biscuits segment. Its brands, “RICHLITE,” “FUNTREAT,” and “CANBERRA,” are known for their butter-rich and center-filled products, catering to a wide array of taste preferences.

The company boasts a robust distribution network of over 150 business partners across North India and international markets, including the UAE, Kuwait, Somalia, Tanzania, Afghanistan, Congo, Kenya, Rwanda, and Seychelles. Nurture Well’s products are available through both retail and online portals.

Saurabh Goel, another Director at Nurture Well, highlighted the company’s vision: “Our vision is to be a leading and innovative biscuit manufacturing company, recognized globally for our exceptional quality, diverse product range, and commitment to customer satisfaction. We strive to delight consumers with delicious and wholesome biscuits that become their preferred choice for indulgence, comfort, and everyday snacking.”

Nurture Well’s state-of-the-art manufacturing facility in Rajasthan has a capacity of 32,200 MTPA and also has manufacturing tie-ups in Malaysia. The company has demonstrated impressive growth, with a 47% CAGR from 2021 to 2024, achieving a topline of INR 2,750 million, a return on equity of 28%, and a return on capital employed of 24%.

Madhu Lunawat, CIO of India Inflection Opportunity Fund, expressed confidence in Nurture Well’s potential: “The FMCG industry holds immense potential, and we are confident that Nurture Well’s dedication to quality and innovation positions it perfectly to capitalize on this growth. We are particularly enthusiastic about the fast growth in domestic as well as overseas markets.”

Follow Startup Story