July 5, 2022

Mumbai-based startup Spice Tale on Wednesday mentioned it has raised finances from Agility Ventures, Maxar.vc, Nafa capital and choose FMCG business leaders.

The corporate didn’t expose the quantum of finances raised, however mentioned that the capital will in large part be used to strengthen the distribution community and construct scale at the on-line platforms.

”Spice Tale… has raised an undisclosed pre-series A spherical fund from Agility Ventures, Maxar.vc, Nafa capital and choose FMCG business leaders viz. Anupam Bokey, Anand Dhodapkar, and so forth,” the startup mentioned in a commentary.

Based by way of Soumyadeep Mukherjee and Gayatri Gogate, Spice Tale provides a variety of ethnic Indian chutneys in trendy sauce shape.

It all started with 3 merchandise, and now provides just about 15 types curated from regional influences throughout India, akin to Agra ki Saunth, Indori Lemon Chutney, Dilliwali Highly spiced Mint Chutney, Mumbai Schezwan Mayhem, Kolkata Mango Mustard Journey, and The Authentic Kolhapuri Jhatka, amongst others.

The logo has already crossed the sale of part one million devices this yr, and is aiming to move 1.5 million devices by way of the following fiscal, the commentary added.

The logo had previous raised capital in a seed spherical in January 2021.

Spice Tale operates on an omnichannel style. Whilst e-commerce stays the main focal point, the logo already has a foot within the doorways of a few huge retail chains in India, boosting its expansion momentum and build-up targets.

(With inputs from PTI)

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Revealed on: Wednesday, March 16, 2022, 02:27 PM IST

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