Kwik Foods Secures Capital From 9Unicorns
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Idea-phase accelerator VC fund 9Unicorns on Wednesday announced an undisclosed Seed investment in D2C brand Kwik Foods. The funding round also saw participation from LetsVenture.
Kwik Foods is a D2C and social commerce brand committed to making daily cooking quick, easy, and effortless. On the back of its 100 per cent fresh, preservative-free, and healthy ready-to-cook proprietary food products, the brand aims to disrupt India’s ready-to-cook space.
“We believe that a kitchen is a place of joy, and when cooking is stress-free, the food is always honest and delicious. Our range of product offerings consisting of fresh, healthy, and easy-to-cook, food items falls in line with this belief. We are delighted to secure the support of 9Unicorns. We will leverage the capital infusion to strengthen our product line and bolster our marketing operations,” said Prabhleen Kaur, co-founder, Kwik Foods.
As per industry sources, the market for ready-to-cook food products in India is currently valued at a whopping $50 billion and is growing faster on the back of demand coming from young professionals and students strapped for time along with a spurt in homechefs who want to experiment in the kitchen. The range of product lines offered by Kwik Foods has the potential to meet this burgeoning demand from Indian households.
“The post-lockdown economy has highlighted the value of homechefs within one’s vicinity that one can rely on for safety, security, and above all, the flavor and trust of healthy home-cooked meals, and Kwik Foods is primed to meet this burgeoning demand and capture the lion’s share of India’s ready-to-cook market. We are confident in the founding team’s ability to steer their startup towards success. We wish them continued success,” shared Abhijeet Pai, partner, 9Unicorns.
“With home food consumption on the rise, consumers tend to look for different meal options. While work from home continues, consumers are also looking for quick and hassle meals without spending too much prep time. Hence, the reliance on ready-to-eat food items is surely expected to gain momentum. We are happy to be part of the Kwik Food family, as they now look to propel the ready to eat segment,” added Sunitha Ramaswamy, president, Early-stage, LetsVenture.
Kwik Foods’ fresh and preservative-free products currently come in 5 categories. These include Kwik Tadka, ready-to-cook tadka that enables consumers to save time and efforts in cooking Indian meals; Kwik Batter, ready-to-cook, idli and dosa batter; Kwik Paste, fresh ginger-garlic paste, ginger paste, and garlic paste; Kwik Snacks, fresh ready-to-cook samosa; and Kwik Chutneys, coconut chutney, and chili garlic chutney, the company shared.