Shilpa Shetty-backed & Shark Tank India fame brand, WickedGud, has secured Rs. 20 crore led by Orios Venture Partners and saw participation from Asiana Fund and a clutch of existing investors. Founded in 2021 by second time entrepreneur Bhuman Dani, WickedGud is a better-for you indulgent food brand on a mission to un-junk India, one kitchen at a time and offers a range of healthy noodles, pastas and chips for India’s growing Gen Z and Gen X population.
The company will use the fresh capital to ramp up its distribution network, increase spends on branding and marketing and strengthen its core team. It also plans to expand its product development initiatives, enhancing the existing portfolio and adding Korean flavours to its instant and cup noodles range.
Talking of the latest raise, Bhuman Dani, founder, WickedGud said, “We’re thrilled to announce this funding milestone as it fuels our mission to revolutionize the CPG space in India. Over the past six months, we’ve seen phenomenal growth in Reliance Retail stores and quick-commerce platforms, with our products resonating deeply with consumers across the country. Further, with the recent launches on DMart, Zepto, Blinkit and Instamart, we’re excited to unlock the massive potential for our brand in retail and beyond, while continuing to re-define what India eats.”
The Mumbai-based startup has grown 5x in the past 24 months and operates through an omnichannel distribution network, with availability on all major quick commerce and e-commerce platforms and over 2,000 retail outlets across India including 400+ Reliance SMART Bazaar, Signature and Freshpik stores.
Orios Venture Partners, Managing Partner, Rehan Yar Khan, said, “We have been tracking WickedGud since it’s inception and Bhuman since his previous startup. Both have come a long way and we saw that they were at an inflection point. The Instant Noodles market was estimated at Rs. 15,000 crore in 2023 and is projected to hit Rs. 30,000 crore by 2028. WickedGud is the foremost with a healthy option in this category and the response from major retailers has been exciting. We look forward to working with Bhuman and team to build India’s leading noodle and healthy quick foods company.”
The demand for WickedGud products has been fueled by a growing health-conscious populace looking for healthy snacking alternatives for their children. In today’s landscape, where children significantly influence household purchasing decisions, mothers often find themselves navigating the challenge of providing nutritious meals without compromising on taste. Recognizing this dilemma, WickedGud aims to revolutionize the concept of convenience food by offering a healthier alternative to traditional pasta, instant noodles, cup noodles and chips which are free of maida, palm oil and harmful chemicals.
The announcement comes almost a year after the startup had raised Rs. 6 crore in funding from Asiana Fund, Titan Capital, Venture Catalyst, Hyderabad Angels, Disruption Fund and other marquee angels. WickedGud is also a Shilpa Shetty portfolio company and appeared on Shark Tank India where it got quite a lot of popularity.
