Summary
Adukale, an Indian direct-to-consumer (D2C) snacks brand, has secured Rs 11 crore (approximately $1.3 million) in a pre-Series A funding round led by Force Ventures. The funding aims to enhance manufacturing capabilities, boost research and development efforts, expand physical presence, diversify distribution channels, and improve brand visibility. Founded in 2009, Adukale aims to strengthen its position as a top omnichannel player in the snacking sector. Leadership insights from Vinay Gopinath and Karthik Bhat highlight optimism and shared vision for growth. This funding marks a significant milestone for Adukale, paving the way for accelerated expansion in India’s dynamic snacks market.
Adukale Secures Rs 11 Crore in Pre-Series A Funding Round
Adukale, a direct-to-consumer (D2C) snacks brand based in India, has announced a successful pre-Series A funding round, raising Rs 11 crore (approximately $1.3 million). The funding, led by Force Ventures, marks a significant milestone for the company as it embarks on a journey to bolster its market presence and enhance its offerings.
Purpose of Funding:
The primary focus of this fundraising initiative is to strengthen Adukale’s manufacturing capabilities and ramp up its research and development efforts. Additionally, the company aims to expand its physical footprint by opening more stores, diversify its distribution channels, and elevate its brand visibility across various platforms. This strategic infusion of capital underscores Adukale’s commitment to solidifying its position as a leading omnichannel player in the snacking sector.
Adukale’s Journey:
Founded in 2009 by Nagaratna Ravindra, Malathi Sharma, and MS Ravindra, Adukale has emerged as a prominent player in the Indian snacking market. With a diverse range of over 75 products offered through its network of ‘Adukale Experience Stores’ in Bengaluru and Mysore, as well as its online presence on various e-commerce platforms, the brand has garnered a loyal customer base and established itself as a trusted name in the industry.
Leadership Insights:
Vinay Gopinath, Chief Growth Officer at Adukale, expressed optimism about the brand’s growth prospects following the successful funding round. He highlighted the importance of this capital infusion in expanding Adukale’s channel presence, enhancing visibility, and fostering deeper engagement with its target audience. Karthik Bhat, founder of Force Ventures, emphasized their shared vision to lead the traditional snacks category by 2025 and showcase Karnataka’s culinary legacy on a global platform.
The successful completion of the pre-Series A funding round signifies a significant milestone for Adukale, paving the way for accelerated growth and expansion in the dynamic snacks market of India. With a strong emphasis on innovation, quality, and customer satisfaction, Adukale is poised to further solidify its position as a market leader and continue delivering delightful snacking experiences to consumers across the country.
