The investment aims to support the company’s expansion efforts, enhance its brand portfolio, and strengthen its operational platform amid growing global demand in the food service industry.
The company focuses on sustainable and eco-friendly designs, ensuring that its kitchen and interior products cater to various design needs while minimizing environmental impact.
The investment will support Agrileaf’s plans to scale its operations in the US and European markets and establish a consumer-facing brand in India’s retail sector.
The round was led by existing investor Chimes Group and Srinivasan Namala of Porus Laboratories with participation from Hyderabad Angels, The Chennai Angels and other marquee HNI’s.
As India’s retail snacks market continues to grow, this sector was valued at Rs 426 billion for FY24 and is projected to reach approximately Rs 955 billion by FY32, growing at a CAGR of 11 percent.
According to the DRHP the proceeds of the IPO will be used for investment in its subsidiary Scootsy, for expansion of its dark store network for its quick commerce segment, setting up dark stores, investment in technology and cloud infrastructure and funding its inorganic growth.
The newly acquired funds will be used to expand to over 350 locations in the next 30-36 months, drive new product innovation, and expand to new channels.