Startup Khetika raises USD 18 mn for expansion

Mumbai, Jul 7 (PTI) Clean-label food startup Khetika on Monday said it has raised USD 18 million, or about Rs 154 crore, from a clutch of investors for expansion.

Narotam Sekhsaria Family Office and Anicut Capital, along with existing investors Incofin India Progress Fund, Rajasthan Gum, and Shree Ram India Gums participated in the funding round, a statement said.

The company, which aims to make preservative-free food accessible to every Indian household, plans to use the funds to fuel growth, brand building and operational expansion, the statement said, adding that it will also provide secondary exit to early investors.

The Mumbai-based company sells products through e-commerce platforms and large retail stores only, and is aiming to expand into new cities and build teams across innovation, marketing, and operations.

The company's co-founder and chief executive, Prithwi Singh said at a time when the Indian food sector is grappling with "adulteration and high use of harmful chemicals" Khetika procures directly from farmers and has a differentiated product and supply chain ecosystem.

He added that the company has had a remarkable growth in the past, and is now "aiming to scale by 10X over the next three years".

"We believe the Indian Food space is set for transformation with more consumers preferring healthy and clean food," Narotam Sekhsaria Family Office's head of private investments Narayanan Venkitraman said. PTI AA ANU ANU