Wholsum Foods Pvt Ltd, which runs millet-based children’s food brand Slurrp Farm, on Tuesday said it has raised a funding of $7 million (around Rs 52 crore) led by Investment Corporation of Dubai (ICD), the Gulf Emirate’s sovereign wealth fund.
Existing investor Fireside Ventures also took part in the round.
The company plans to use the fresh funds for its product innovation, marketing, expanding footprint globally and making millet-based products.
“We have a deep-rooted conviction to bringing millets back to the meals we eat and making them incredibly delicious! The UN-designated Year of Millets strengthens our commitment to lead the conversation on these super grains.
We are growing steadily and currently clocking in over Rs 50 crore of revenue run rate, with an aim to reach Rs 500 crore in revenue by 2025. The funds raised will enable us to build a global Indian FMCG brand," said Meghana Narayan and Shauravi Malik, Co-Founders and Co-CEOs of Wholsum Foods.
The brand claimed it had expanded to the UAE and is looking for a 40% boost in its offline and online presence in the region over the next one year.
In 2020, the company raised $2 million (about Rs 14.6 crore) in its Series A round of funding led by venture capital firm Fireside Ventures.