Scandalous Foods Raises Funds in Pre-Seed Round Led by New Age India Fund
Scandalous Foods, a B2B Indian sweets company, has raised Rs 2 crore in an ongoing seed funding round, led by New Age India Fund. The startup is now considering three term sheets from different investors and a family office as it progresses to seal this round of funding.
Earlier this year, in February 2024, the firm raised Rs 3 crore in a pre-seed round of funding from the Indian Angel Network and other investors. The money raised will be utilized for increasing the production capacity and its SME HoReCa (Hotels, Restaurants, and Catering) distribution network, which will enable the company's next growth stage, as mentioned in a press release.
Scandalous Foods was established in August 2022 by Sanket S to transform the sweets market for the restaurant industry. The company believes in quality and innovation and produces preservative-free sweets with a shelf life of six months, packaged in handy single-serve portions. As a B2B business, Scandalous Foods has intentions to expand to B2B2C and B2C markets.
The company specializes in cloud kitchens and plans to expand its presence in different segments of food service. In the near term, it will be launching mithai bars and sachets to serve spontaneous indulgence without remorse.
Sanket S, co-founder of Scandalous Foods, stated, "At Scandalous Foods, we’re not just selling Indian sweets; we’re striving to become the leading mithaiwala in the unplanned post-meal impulse purchase space. This funding marks a significant step forward in our mission to make our sweets a staple in restaurants and catering menus across India. With increased production, a stronger distribution network, and new products on the horizon, we’re excited to bring our bold, delicious creations to a wider audience."
Scandalous Foods has registered an impressive 7x growth in calendar year 2024, selling more than 2 million cups of Indian sweets in nine cities. The brand has touched almost one million unique consumers with its 27 B2B customers and more than 1,500 distribution points.
The Nashik startup will launch 2-3 new products and enter new sub-channels in existing markets, changing its focus from key account HoReCa customers to reaching SME HoReCa and caterers.
Earlier this year, in February 2024, the firm raised Rs 3 crore in a pre-seed round of funding from the Indian Angel Network and other investors. The money raised will be utilized for increasing the production capacity and its SME HoReCa (Hotels, Restaurants, and Catering) distribution network, which will enable the company's next growth stage, as mentioned in a press release.
Scandalous Foods was established in August 2022 by Sanket S to transform the sweets market for the restaurant industry. The company believes in quality and innovation and produces preservative-free sweets with a shelf life of six months, packaged in handy single-serve portions. As a B2B business, Scandalous Foods has intentions to expand to B2B2C and B2C markets.
The company specializes in cloud kitchens and plans to expand its presence in different segments of food service. In the near term, it will be launching mithai bars and sachets to serve spontaneous indulgence without remorse.
Sanket S, co-founder of Scandalous Foods, stated, "At Scandalous Foods, we’re not just selling Indian sweets; we’re striving to become the leading mithaiwala in the unplanned post-meal impulse purchase space. This funding marks a significant step forward in our mission to make our sweets a staple in restaurants and catering menus across India. With increased production, a stronger distribution network, and new products on the horizon, we’re excited to bring our bold, delicious creations to a wider audience."
Scandalous Foods has registered an impressive 7x growth in calendar year 2024, selling more than 2 million cups of Indian sweets in nine cities. The brand has touched almost one million unique consumers with its 27 B2B customers and more than 1,500 distribution points.
The Nashik startup will launch 2-3 new products and enter new sub-channels in existing markets, changing its focus from key account HoReCa customers to reaching SME HoReCa and caterers.
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