NuVentures Backs Bengaluru-Based Snacks Brand Adukale in New Fundraising Round
- ByStartupStory | August 14, 2024
Adukale, a Bengaluru-based snacks brand known for its ready-to-eat and ready-to-cook products, has secured investment from early-stage investor NuVentures as part of its ongoing fundraising efforts, the company announced today.
This funding round follows an earlier round this year where Adukale raised ₹11 crore, led by Force Ventures with participation from Aanya Ventures and Accel partner Subrata Mitra, among others.
Expressing optimism about the future, Bharat Kaushik, Director and CEO of Adukale, stated, “Adukale is poised for significant growth, and the funding from NuVentures bolsters this journey to expand our operations and extend our distribution network. It reinforces our dedication to honoring Karnataka’s rich culinary heritage and positions us as leaders in the traditional snacks market.”
He further added, “We are thrilled to seize this opportunity to enhance our brand presence and deepen our connection with our audience.”
The company has ambitious plans for growth, underscored by the recent opening of a new 20,000 square feet, state-of-the-art production facility on the outskirts of Bengaluru. This new facility is expected to increase the brand’s production capacity by over fourfold.
Founded 15 years ago, Adukale currently operates 23 stores in Bengaluru and Mysuru, and its products are available in more than 1,000 supermarkets and other retail outlets. The brand also has a strong online presence, selling through leading e-commerce platforms.
As Adukale continues to scale its operations, the investment from NuVentures is expected to play a crucial role in expanding its reach and solidifying its position as a leader in the traditional snacks market.
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