[Funding alert] D2C brand Kwik Foods raises undisclosed amount in seed round from 9Unicorns
Gurugram-based D2C and social commerce brandon Wednesday announced that it has raised an undisclosed fund in its seed round from India’s first idea-phase accelerator VC fund — . The funding round also saw participation from LetsVenture.
Founded by Prabhleen Kaur and Harshal Patel in 2020, Kwik Foods is a D2C and social commerce brand that aims to disrupt India’s ready-to-cook space.
On the fundraising Prabhleen Kaur, Co-founder of Kwik Foods, said,
“We believe that the kitchen is a place of joy, and when cooking is stress-free, the food is always honest and delicious. Our range of product offerings consisting of fresh, healthy, and easy-to-cook, food items falls in line with this belief. We are delighted to secure the support of 9Unicorns. We will leverage the capital infusion to strengthen our product line and bolster our marketing operations.”
Co-founders of Kwik Foods
As per industry sources, the market for ready-to-cook food products in India is currently valued at a whopping $50 billion and is growing faster on the back of demand coming from young professionals and students strapped for time, along with a spurt of home chefs who want to experiment in the kitchen.
“The post-lockdown economy has highlighted the value of home chefs within one’s vicinity that one can rely on for safety, security, and above all, the flavour and trust of healthy home-cooked meals and Kwik Foods is primed to meet this burgeoning demand and capture the lion’s share of India’s ready-to-cook market. We are confident in the founding team’s ability to steer their startup towards success. We wish them continued success,” Abhijeet Pai, Partner at 9Unicorns added.
Adding to this Sunitha Ramaswamy, President, Early Stage, LetsVenture said,
“With home food consumption on the rise, consumers tend to look for different meal options. While work from home continues, consumers are also looking for quick and hassle meals without spending too much prep time. Hence, the reliance on ready-to-eat food items is surely expected to gain momentum. We are happy to be part of the Kwik Food family, as they now look to propel the ready to eat segment.”