Wonderland Foods raises Rs 140 Cr from Asha Ventures, BII to set up green processing unit
The company will use the fresh capital to build a green processing facility to expand distribution and create over 1,000 jobs.
Healthy snacking brand Wonderland Foods on Thursday said it has raised Rs 140 crore in its first institutional funding round led by Asha Ventures and British International Investment (BII), the UK’s development finance institution and impact investor.
The funds will be used to set up a green processing facility in Greater Noida and create more than 1,000 formal jobs, primarily for women, the company said in a press note.
"This funding marks a pivotal moment for us as we scale our distribution, launch new products, and take the next big leap in our growth journey. We’re proud to partner with the Government of Uttar Pradesh to set up a Rs 250 crore greenfield nuts and dry fruits processing unit at Greater Noida, which will create employment opportunities for over 1,000 women and further strengthen India’s food processing ecosystem,” said Rakesh Gupta, Founder and Anubhav Gupta, Managing Director of Wonderland Foods.
The company plans to use the investment to expand its distribution network, launch new value-added products, and strengthen its position in the branded dry fruits and nuts market.
Founded by Rakesh Gupta and Anubhav Gupta, Wonderland Foods’ products, which include trail mixes and dry fruits, are available across modern trade outlets and online ecommerce and quick commerce platforms, including Amazon, Flipkart, Swiggy Instamart, Blinkit, and Zepto.
"What excites us about Wonderland is the rare combination of a strong consumer brand, differentiated product portfolio and wide distribution that have enabled the company to build scale efficiently. The healthy snacking category is experiencing strong consumer tailwinds, and Wonderland is well-placed to lead the organised shift from loose, unbranded products to trusted, hygienic formats,” said Pramod Bhasin & Vikram Gandhi, Founding Partner at Asha Ventures.
The brand competes with digital-first brands such as Happilo, Farmley, and Khetika, along with a host of unorganised sellers. Earlier this year, Makhana brand Farmley completed a $40 million Series C fundraise led by L Catterton to scale the dried fruits and nuts segment. The round also saw participation from existing investor DSG Consumer Partners and BC Jindal.
Edited by Affirunisa Kankudti