Shilpa Shetty-backed noodles and pasta model WickedGud has raised Rs 20 crore in its newest funding spherical because it appears to deepen its omni-channel distribution and speed up product innovation throughout high-growth consumption classes.

The spherical noticed participation from current buyers, together with Orios Enterprise Companions, Asiana Fund, and Shilpa Shetty.

New buyers within the spherical embody Shajikumar Devakar, co-founder of Neo Wealth Administration; Ajay Mehta, former content material head at WPP; Sonika Ravula, normal associate at Optionally available Gravity; and Rahul Colaco, chief government officer at Fraser & Neave (F&N).

Beforehand, the Mumbai-based startup earlier raised $250,000 in June 2023, adopted by a Rs 20 crore round in December last year.

Based in 2021 by Bhuman Dani, WickedGud operates as a direct-to-consumer meals model targeted on what it describes as “unjunking” on a regular basis staples. Its merchandise are made utilizing healthful components and manufactured utilizing steaming and convection air drying (SCAD) expertise.

The Shark Tank India-featured startup operates in a class the place style, worth sensitivity, and availability are important to scale, and has positioned itself as a better-for-you model with out being area of interest or premium-only.

The startup will use the contemporary capital to increase its presence throughout fashionable commerce, normal commerce, and digital channels, whereas strengthening provide chain and backend infrastructure. A portion of the funds will probably be deployed to speed up innovation in fast-moving classes reminiscent of cup noodles and Korean-style spicy noodles.

“The final 12 months have been pivotal for WickedGud. We have now delivered 3x income development, expanded our footprint to over 5,000 retail shops, and efficiently entered new high-velocity codecs,” stated Bhuman Dani, founder and CEO of WickedGud.

“This funding permits us to scale with self-discipline, strengthen our go-to-market engine, and construct a model that constantly delivers on style, diet and affordability for India’s subsequent era of shoppers.”

WickedGud is at present out there throughout main e-commerce and quick-commerce platforms, together with Amazon, Blinkit, Instamart, Zepto, BigBasket, and Flipkart. Offline, the model has expanded to greater than 5,000 shops nationwide, together with over 1,500 Reliance Good Bazaar shops and 50 DMart places.

Rehan Yar Khan, managing associate at Orios Enterprise Companions, stated WickedGud’s execution and cross-channel development had been key drivers behind the agency’s continued backing.

“WickedGud’s robust execution, speedy development throughout channels, and category-leading improvements in cup noodles and Korean spicy codecs make them one of the crucial thrilling rising FMCG manufacturers in India,” he stated.

“We’re doubling down as a result of their trajectory, market share positive factors, and model love clearly display they’re constructing a family title within the making.”