Wonderchef Raises INR 150 Crore
The capital will be used for strengthening online presence, expanding distribution network and enhancing branding initiatives
Wonderchef Home Appliances has raised INR 150 crore from Sixth Sense Ventures. The round also saw participation from Godrej Family Office, Malpani Group and others.
Founded by Ravi Saxena in 2009, the company has grown to become the leading premium kitchen appliances brand in India. The company markets its products through an omni-channel distribution network. Over the past three years, the company has started developing Wonderchef into a digital-first brand with a strong focus on online sales. This has led to a jump in sales from 20 per cent to 50 per cent of the total revenue, said a statement.
Sixth Sense Ventures along with a group of renowned family offices invested INR 150 crore in a combination of primary and secondary investment. In this round, Mauritius-based investment firm Capvent, which invested in Wonderchef in 2015, took an exit. The primary capital raised will be used for strengthening online presence and capability, expanding distribution network and enhancing branding initiatives.
Ravi Saxena, founder of Wonderchef, said in the statement, “At Wonderchef, we have continued to develop our business on the back of innovation. The Indian consumer is focused on quality and value, and our sharp focus on these factors has helped us win the trust of our customers. We are elated to have Sixth Sense on-board as we begin Wonderchef 2.0 journey.”
“Kitchen is the heart of the home. We are excited about the opportunity to partner with Ravi, chef Sanjeev Kapoor and team Wonderchef towards building a leading kitchen appliances business in India”, said Nikhil Vora, founder of Sixth Sense Ventures.