WickedGud, a direct-to-consumer (D2C) brand that focuses on offering healthy food and snack alternatives, has raised an additional growth funding of USD 250,000 from GetVantage, India’s leading alternative financing platform for eCommerce entrepreneurs and SMEs.
Read: May 2023 Issue of Food InfoTech Magazine.
With its significant influence on the healthy food industry and the support of enthusiastic consumers, WickedGud has experienced remarkable success. The recently secured growth funding will be utilized to enhance marketing efforts, expand product offerings, and strengthen retail distribution channels. The ultimate objective is to achieve a fivefold increase in net revenues during the fiscal year 2024. Despite witnessing a threefold increase in net revenues over the past 12 months, WickedGud has ambitious plans for further expansion. The company aims to significantly broaden its retail footprint in India by leveraging its distribution partner network, with the goal of establishing a presence in over 2,000 stores.
WickedGud is renowned for its range of pasta and noodles that are completely free of maida, oil, and MSG. These products are readily available on various online marketplaces. In addition to their existing offerings, the company has exciting plans to introduce three new product categories—Malted Drinks, Sweet Spreads, and Popped Chips—within the next 18 months.
Just last month, WickedGud successfully obtained funding of Rs 2.25 crore from Shilpa Shetty, a well-known fitness enthusiast, actor, entrepreneur, and prolific investor. The brand has further enhanced its reputation through its appearance on Season 2 of Shark Tank, a popular entrepreneurial reality show.
Commenting on the recently funding round, Bhuman Dani, Founder and CEO of WickedGud, said, “My previous experience at TGL, along with a strong founding team at WickedGud, gives me the conviction to build a robust distribution network across the country, that will drive the next phase of our growth. It’s great to have the backing of GetVantage as our strategic long-term growth funding partner, who understands our objectives and gives us the strength and flexibility to focus on achieving our expansion plans.”
Bhavik Vasa, Founder and CEO of GetVantage said, “Bhuman and his team at WickedGud have impressed us with their traction, extensive market knowledge, and ability to identify opportunities. At GetVantage, we are thrilled to support their strong early foundation, exciting growth plans, and their vision to revolutionize Indian kitchens one step at a time.”