Elixiir Foods raises $9M in seed round led by 3one4 Capital, Incubate Fund Asia

Delhi NCR-based Elixiir Foods has raised $9 million in a seed funding round led by 3one4 Capital. Incubate Fund Asia has also participated in the round. 

Founded by FMCG veterans Arvind Mediratta and Ambuj Narayan, Elixir Foods is building a technology-driven grocery platform for urban India. The platform offers fresh produce, dairy, meat, seafood, and daily essentials positioned as "affordable premium".

"India is no longer looking only for basics. It wants healthier food choices along with authentic gourmet cuisines: not just from different regions of India, but from around the world. Elixiir Foods is being built as a tech-native destination, positioned as the most trusted platform for fresh, healthy, and gourmet food products," Mediratta said in a statement.

"We also recognise that Indian customers across all SECs are highly value-conscious, making pricing the X-factor right at the wholesale and distribution level as part of our customer proposition. This represents a massive opportunity, with the total addressable market easily exceeding $100 billion and continuing to grow.”

The funds will be used to launch Elixiir Foods’ initial presence, strengthen its tech-enabled fresh sourcing and private label supply chains, expand its wholesale and distribution backbone, and build the technology foundation required for a density-led city rollout, the company said in the statement.

Anand Batra of 3one4 Capital said, "The most scalable and resilient customer platforms emerge when format innovation and operational discipline are integrated from the very start." 

Nao Murakami of Incubate Fund Asia said, "We believe that India is at this inflection point today, and this is a massive opportunity."