New Delhi, July 7 -- Healthy snack and staples brand Khetika said Monday it has bagged $18 million (approximately Rs 154.6 crore) in its Series B funding round led by Narotam Sekhsaria Family Office and Anicut Capital.
Khetika will use the funding to build its range of food items, scale its manufacturing facility, innovate, enhance the use of technology in its operations, and expand globally, it said in a press release.
"We are grateful to our investors for believing in our vision and supporting us in this journey. Khetika has witnessed remarkable growth over the last few years, and we are now aiming to scale by 10x over the next three years," said Prithwi Singh, co-founder and chief executive officer of Khetika.
Khetika is one of the brands operated by Retranz Info Labs Pvt Ltd. It says it offers preservative-free dry fruits, staples, instant batters and spices.
Narayanan Venkitraman, who heads private investments at Narotam Sekhsaria's family office, said that the Indian food space is undergoing change with more consumers preferring healthy and clean food.
Adithya Bharadwaj, principal at Anicut Capital, said Indian households are increasingly demanding clean-label, health-focused foods that deliver on nutrition and transparency, referring to the firm's investment in Khetika.
Khetika's existing investors include Incofin Investment Management and SIDBI Venture Capital, from whom it had raised around $5.08 million across two rounds, in 2019 and 2021.
Retranz Info Labs' revenue from operations in 2023-24 recorded a 32% growth to Rs 163.8 crore. Its operating loss halved to Rs 6.5 crore in FY24, according to VCCEdge.
Published by HT Digital Content Services with permission from VC Circle.