Highlights
- Indian D2C snacks brand Adukale raises Rs 11 crore (approximately $1.3 million) in a pre-Series A funding round led by Force Ventures.
- The funding will be utilized to enhance manufacturing capabilities, boost research and development efforts, expand physical presence with more stores, diversify distribution channels, and improve brand visibility.
- Adukale, founded in 2009, aims to solidify its position as a top omnichannel player in the snacking sector with over 75 products offered through its network of ‘Adukale Experience Stores’ and online platforms.
Adukale, a direct-to-consumer (D2C) snacks brand based in India, has successfully raised Rs 11 crore (approximately $1.3 million) in a pre-Series A funding round. The funding was led by Force Ventures, with participation from Aanya Ventures and notable angel investors including Subrata Mitra and Radhika Pandit.
Enhancing Manufacturing and Expansion Plans
The primary objective behind this fundraising is to bolster Adukale’s manufacturing capabilities and invest further in research and development initiatives. Additionally, the company aims to expand its physical presence by opening more stores, diversify its distribution channels, and enhance brand visibility across various platforms.
Adukale’s Endeavors
Established in 2009 by Nagaratna Ravindra, Malathi Sharma, and MS Ravindra, Adukale is on a mission to solidify its position as a leading omnichannel player in the snacking sector. Presently, the brand offers a diverse range of over 75 products through its network of more than 20 ‘Adukale Experience Stores’ in Bengaluru and Mysore, along with its online store and various e-commerce platforms.
Insights from Leadership
Commenting on the funding, Vinay Gopinath, Chief Growth Officer at Adukale, expressed optimism about the brand’s growth trajectory. He emphasized the significance of the secured funding in expanding the brand’s channel presence, augmenting visibility, and fostering deeper engagement with the target audience.
Karthik Bhat, founder of Force Ventures, shared his thoughts on the partnership, highlighting a shared vision to lead the traditional snacks category by 2025. He underscored their commitment to showcasing Karnataka’s culinary legacy on a global platform.
The successful fundraising signifies a significant milestone for Adukale as it paves the way for accelerated growth and expansion in the dynamic snacks market of India.
