Bengaluru-based packed food brand GO DESi has raised ₹1 crore in seed funding round led Mumbai-based Lead Angels Network.
2nd Nov,2018. RedNewswire/-
Other angel Investors including serial entrepreneur R Ramaraj, whose last stint was at Sify as the Cofounder & CEO also participated in the round.
The capital will help the company aggressively expand its sales and distribution into other metro cities as well as strengthen the back-end supply chain.
GO DESi was founded by former ITC Limited executive Vinay Kothari in 2017. The confectionery brand was incubated at IIM Bangalore, part of the Upaya Agri business cohort, part of Wadhwani Foundation FMCG Accelerator.
GO DESi is a packaged confectionery brand inspired by local, regional formats and flavours entirely manufactured at micro units set up by women entrepreneurs, farmer cooperatives and SHG in rural and semi urban areas.
GO DESi products are available more than 250 retail stores in Bengaluru and also top selling products in their respective categories on Amazon and Flipkart. The brand offers regional flavoured food products like Jackfruit bars, Banana Bites, Lemon Chaat, and Amla Bites.
Sushanto Mitra, CEO of Lead Angels Network, said, “Over the years, numerous companies have launched Westernized products and introduced Western flavours to India. What impressed us most about GO DESi is their ability to retain the classical Indian flavours with their new line of products such as Imli Pop and Jackfruit bars which undeniably satiate the Indian taste buds. They also understand and realize the importance of retail strategy which has been a crucial aspect of India’s consumer growth story.
On one hand GO DESi’s model of manufacturing at farm gate helps preserve local flavours & formats which is loved by the consumer and on the other hand it gives the micro entrepreneurs the platform to scale up and thereby generating income and creating employment in rural areas, said R Ramaraj.