Mumbai-based homemade snacks startup PatilKaki has raised an undisclosed amount of capital in a fundraise led by angel investing network, Cap70 Angels.
The round also saw participation from Angelorajesh Athaide, chairman of St. Angelo’s VNCT Ventures and founder of Asian Markets Securities, Kailash Biyani.
The startup plans to deploy the fresh proceeds to expand sales and distribution, scale operations and optimise marketing.
Founded in 2020 by Geeta Patil, Vinit Patil and Darshil Savla, PatilKaki offers a range of homemade Indian snacks and sweets such as ladoos, puranpoli, chakli and more through its own website as well as ecommerce platforms such as Amazon and Meesho.
“The faith bestowed upon us by our lead investors further strengthens our resolve to serve our customers homemade snacks with love. The latest milestone has opened up a new world of possibilities for us,” Vinit Patil said.
In the D2C snacking market, PatilKaki competes with the likes of Happilo and TagZ.
The Indian ready-to-eat snack market has been experiencing a rapid rise in revenue and investment due to changing lifestyles, increasing disposable income and a vast domestic market to cater to the opportunities for various products and their individual needs.
D2C snacking brand Sweet Karam Coffee (SKC) raised $1.5 Mn from Fireside Ventures last month. Besides, cricketer Shikhar Dhawan invested in omnichannel snack brand TagZ Foods earlier this year.
As per a report by Statista, the Indian snack market was valued at $66.92 Bn in 2023 and is expected to grow annually at a rate of 9.01% (CAGR 2023-2028).
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