Mumbai: WickedGud, a D2C brand making healthy food and snack alternatives has raised $250,000 in additional growth funding from GetVantage, India’s first and largest alternative financing platform for eCommerce entrepreneurs and SMEs.
The food startup has made a significant impact in the healthy food space, building on strong momentum and consumer sentiment. The additional growth funding will be invested in marketing, product expansion, and retail distribution to achieve a five X growth in net revenues in FY 24, despite already growing three X in net revenues over the past 12 months. It also plans to exponentially increase its retail footprint to over 2,000 retail stores PAN-India through its distribution partner network.
WickedGud makes healthy pasta and noodles that are 100 per cent maida-free, oil-free, and MSG-free across online marketplaces and is on track to launch three new product categories over the next 18 months – malted drinks, sweet spreads, and popped chips. Just last month, the brand, which also appeared on Shark Tank S2, raised Rs 2.25 crore from fitness evangelist, actor, entrepreneur, and serial investor, Shilpa Shetty.
Talking about the recent investment, GetVantage founder & CEO Bhavik Vasa said, “Bhuman and his team at WickedGud have impressed with their traction, extensive market knowledge and ability to identify opportunities. At GetVantage, we are thrilled to support their strong early fundamentals, exciting growth roadmap, and vision to unjunk India one kitchen at a time.”
As a seasoned D2C founder, and having previously launched and scaled the consumer favorite tea brand, TGL Co. (The Good Life Company), WickedGud founder & CEO Bhuman Dani said, "My previous experience at TGL, along with a strong founding team at WickedGud, gives me the conviction to build a robust distribution network across the country, that will drive the next phase of our growth. It’s great to have the backing of GetVantage as our strategic long-term growth funding partner, who understands our objectives and gives us the strength and flexibility to focus on achieving our expansion plans.”
WickedGud products are made using wholesome, mom-approved ingredients such as wholewheat flour, lentils, brown rice, chickpeas, oats, and millets and are manufactured using innovative Steaming and Convection Air Drying (SCAD) technology, fostering sustainable food habits and resulting in a superior macronutrient profile when compared to legacy brands.
GetVantage continues to strengthen its leadership position as the preferred non-dilutive funding partner for new-economy businesses. In less than 24 months, the company has amassed one of the largest consumer portfolios in India, having facilitated funding for over 300 D2C brands. This is in addition to other sectors it continues to serve more businesses in that including B2B SaaS, Cleantech, EV & infrastructure, cloud-kitchen, and QSR, among others. Last month, GetVantage became the only alternative-funding platform in India to have secured its own fresh NBFC license.
