Wingreens Farms raises Rs 125 cr from responsAbility Investments, Sequoia India
Existing investor Sequoia India also participated in the Series B round, a statement said.
Wingreens, which offers products like dips, spreads, sauces, pita chips and bakery products, plans to use the investment to expand the back-end farming and food processing model, it added.
The company employs over 300 women across its production facilities and stores.
Wingreens also plans to make further investments in marketing and strategic acquisitions as well as develop new product lines - with over 40 new SKUs slated to be added to the current 180, the statement said.
"Starting off as a category creator in fresh dips in India to becoming a multi category company in just eight years, Wingreens has always been at the forefront on innovation. We are excited to have responsAbility as a partner as we work towards becoming a 500 crore business in the next 3-4 years," Wingreens Farms founder and Director Arjun Srivastava said.
responsAbility has USD 3 billion of assets under management invested in 540 companies in 90 countries.Wingreens' products are available in over 140 Indian cities across more than 1,300 modern trade stores and 9,000 general trade stores. It plans to expand the distribution network to over 200 cities with more than 2,000 modern trade and one lakh general trade stores in the next one year, the statement said. SR SR ANU ANU
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