Wholsum Foods Raises $7 Million To Expand Millet-based Offerings
Wholsum Foods, a Gurugram-based Millet-based food startup, has raised $7 million in a fresh round led by Investment Corporation of Dubai, the sovereign wealth fund of the Government of Dubai, and existing investor Fireside Ventures.
As per the startup, the freshly raised funds will be used to further Wholsum Foods’ core purpose of developing millet-based products with zero junk ingredients. Additionally, the funds will also be deployed towards product innovation, marketing, and increasing global footprint.
Wholsum Foods | Millet-based Products
Founded by Meghana Narayan and Shauravi Malik, Wholsum Foods is the parent company of children’s food brand Slurrp Farm. The funding development comes at a time when the COVID-19 pandemic accelerated the growth of Wholsum Foods, with consumers becoming more health-conscious. This enabled the brand to register a 10X growth between June 2020 and December 2021.
Speaking about the development, Meghana Narayan and Shauravi Malik, Co-founders of Wholsum Foods, said,
“We have a deep-rooted conviction to bring millets back to the meals we eat and make them incredibly delicious. The UN-designated Year of Millets strengthens our commitment to lead the conversation on these super grains. We are growing steadily and currently clocking in over Rs 50 crore of revenue run rate, with an aim to reach Rs 500 crore in revenue by 2025. The funds raised will enable us to build a global Indian FMCG brand.”
Slurrp Farm was launched in October 2016 to provide healthy and natural food options for children. The food brand offers products that are made out of super grains like millets – ragi, jowar, bajra, foxtail millet, amaranth – that have lots of essential micronutrients!
In 2021, Slurrp Farm launched 20 new SKUs, including Little Millet Noodles and Foxtail Millet Noodles. The same year, the food startup expanded to the UAE. Now, Slurrp Farm is looking to grow its offline and online presence in the region by 40 per cent in the next 12 months.
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