Prepared-to-cook meals firm iD Contemporary Meals has raised a strategic funding from London-based non-public fairness agency Apax Companions, which is able to purchase a big minority stake within the Bengaluru-headquartered agency, marking one in all Apax’s first pure-play client investments in India.

Whereas iD Contemporary didn’t disclose the monetary phrases of the transaction, sources cited in media experiences stated Apax Companions is investing round Rs 1,300 crore for a 25% stake, valuing the corporate at roughly Rs 4,500 crore. As a part of the deal, Apax may also purchase secondary stakes from present shareholders Premji Make investments and TPG NewQuest.

“The Apax Funds’ funding will enable us to speed up development, construct capability, broaden our product vary, and scale into extra cities and markets,” founder and CEO PC Musthafa stated.

Based in 2005 by Musthafa alongside along with his cousins Abdul Nazer, Shamsudeen TK, Jafar and Noushad TA, iD Contemporary constructed its model round preservative-free, home-style idli and dosa batters. Through the years, the corporate has expanded its portfolio to incorporate frozen Indian flatbreads, whole-wheat parathas, curd, paneer, on the spot filter espresso, espresso powder, pancake mixes, frozen fruit pulp and chutneys, because it seemed to broaden its attain past southern markets.

The corporate has raised over $99 million previous to this spherical from traders together with Peak XV Companions (previously Sequoia Capital India), Helion Enterprise Companions, Premji Make investments and TPG NewQuest.

After years of losses, iD Contemporary turned worthwhile in FY24, reporting a web revenue of Rs 1.84 crore in contrast with a lack of Rs 23.3 crore in FY23. The turnaround gathered tempo in FY25, with revenue earlier than tax rising to Rs 26.7 crore as working income crossed Rs 600 crore. Whole income for the 12 months grew 22.3% to Rs 688.22 crore from Rs 562.85 crore within the earlier fiscal.