Snack and instant food maker Adukale secured Rs 11 crore in funding led by Force Ventures. The funding will be used to expand the company’s offline presence. Adukale, established in 2009, offers a variety of snacks and instant food ingredients such as dosa, idli and poha.
The firm plans to open 12 more stores in the next 14 months and expand to 2,500 supermarkets and retail stores. They currently operate more than 20 exclusive stores and are present in over 1,200 supermarkets and retail stores.
The recent funding round also involved investors like Anya Ventures, Accel and Radhika Pandit. Adukale generates 80 per cent of its sales from offline channels and the remainder from online platforms such as their website, BigBasket, Swiggy Instamart and Zepto. The firm aims to increase its monthly recurring revenue by 2.5 times in FY25. It is currently profitable at a contribution margin level and aim to achieve profitability at an EBITDA level within the next 12-18 months.
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