Wingreens Farms Raises Rs 124 Cr From Investcorp, Omidyar
Wingreens Farms, a packaged food company, has raised Rs 124 crore in a funding round led by alternate investments focused Investcorp and impact investor Omidyar Network India.
Founded by Anju Srivastava, Wingreens Farms is a fully integrated (farm to retail) food company in the business of making and selling a range of fresh, healthy, tasty and innovative food products.
As per Anju Srivastava, Investcorp and Omidyar’s experience and resources will empower the company to onboard many more new-age food and beverage brands on its platform with an online and offline presence.
Speaking on the development, Anju Srivastava said,
“We are passionate about building a new age food and beverage company that continues to scale its social impact on the back end while building exciting brands that resonate with the emerging millennial consumer on the front end.”
Wingreens Farms | Fully Integrated Food Company
Wingreens presently offers fresh dips, fruit juices (under the brand RAW Pressery), sauces and spreads, spice mixes, healthy snacks, a speciality bakery, breakfast cereals, non-dairy milk, protein shakes and other organic products. As per the company, it has an omnichannel distribution strategy with an offline retail footprint in over 200 cities across India.
Focused on women empowerment, Wingreens was launched as a Women’s Initiative Network project, said Omidyar Network India partner Siddharth Nautiyal.
Gaurav Sharma, Partner and head of India Private Equity at Investcorp India, said,
“Wingreens addresses a large market that represents significant potential and headroom for growth. With its sustainable business model and focus on delivering quality products, the company is a clear market leader across segments and enjoys strong reputation.”
Wingreens Farms is addressing a market opportunity in the healthy products segment, which was pegged at $1 billion in five years, stated the company’s statement.
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