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MasterChow raises $1.2 mn funding led by Anicut Capital & marquee investors
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Monday, 23 May, 2022, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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MasterChow, a ready-to-cook Asian cuisine brand, has announced that it has raised $1.2 million in funding led by Anicut Capital, an Indian investment firm managing alternative assets. The round also saw participation from WEH ventures, Fluid ventures among other prominent D2C founders and angel investors
The company plans to deploy the funds to launch innovative new product categories while delivering a quality experience to its customers. They also aim to introduce a wider variety of flavours and plans to foray into the ready-to-eat segment to attract India’s young consumers. The brand wants to fortify their distribution network while maintaining a strong focus on their own D2C channel across India. They're also looking to hire for mid-senior level positions to further optimise their e-comm channels and go deeper with engaging their core customer via a robust content strategy.
On the funding, Sidhanth Madan, co-founder, MasterChow, said, “We started MasterChow in 2020 with a mission to bring quality ready-to-cook Asian cuisine to every Indian household. Asian cuisine is the second most loved cuisine in India but the lack of innovation and clean label products in the space was shocking. We come into existence to bridge this gap for the country with an emphasis on superior ingredients and convenience in preparing a great meal at home.”
He added, “We are highly enthusiastic about closing the funding at this juncture of our growth phase and thrilled to utilise the funds towards the expansion of our existing operations and launch of new and exciting categories. We are delighted to have Anicut Capital LLP with us. They have established themselves as a founders’ first fund. Their conviction not just within the category but in MasterChow and the speed at which the round was structured and closed is highly impressive. Anicut Capital LLP has the right DNA, tremendous insight, and proven history to help grow challenger FMCG brands like us.”
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