9Unicorns, India’s first idea-phase accelerator VC fund, has announced an undisclosed seed investment in D2C brand Kwik Foods. The funding round also saw participation from LetsVenture.
Kwik Foods is a D2C and social commerce brand committed to making daily cooking quick, easy, and effortless. On the back of its 100% fresh, preservative-free, and healthy ready-to-cook proprietary food products, the brand aims to disrupt India’s ready-to-cook space.
Prabhleen Kaur, former manager of enterprise sales at Gaana, and Harshal Patel, former founding member at Selltm, co-founded Kwik Foods to ensure that cooking stays a stress-free and joyful activity for food lovers.
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.”
As per industry sources, the market for ready-to-cook food products in India is currently valued at a whopping USD 50 billion and is growing faster on the back of demand coming from young professionals and students strapped for time alongwith a spurt in homechefs who want to experiment in the kitchen. The range of product lines offered by KwikFoods has the potential to meet this burgeoning demand from Indian households.
“The post-lockdown economy has highlighted the value of homechefs within one’s vicinity that one can rely on for safety, security, and above all, the flavor 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.
To this Sunitha Ramaswamy, President, Early Stage, LetsVenture added that, “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”, says
Kwik Foods’ fresh and preservative-free products currently come in 5 categories. These include Kwik Tadka, ready-to-cook tadka that enables consumers to save time and efforts in cooking Indian meals; Kwik Batter, ready-to-cook, idli and dosa batter; Kwik Paste, fresh ginger-garlic paste, ginger paste, and garlic paste; Kwik Snacks, fresh ready-to-cook samosa; and Kwik Chutneys, coconut chutney and chilli garlic chutney.