South Indian food startup VS Mani & Co raises ₹2.5 cr in angel funding round

Speciality south Indian food startup VS Mani & Co on Tuesday said it has raised $370,000 (over ₹2.5 crore) in an angel funding round.

Angel investors, including Haresh Chawla, Partner, True North Co; Anupam Mittal, Founder and CEO People Group; Ashish Hemrajani, Founder & CEO, BookMyShow; Sidharth Rao, Group CEO DentsuMB; Rajan Navani, Founder & CEO JetSynthesys; actor-producer Rana Daggubati and Sattva Group's family office, participated in the round, VS Mani & Co said in a statement.

The Bengaluru-based firm said it will use the fund to take its online-first business to other channels and expand the product line to include south Indian snacks.

"Many south Indian foods are popular across the country but there are hardly any pan-India players who have consolidated this opportunity into a comprehensive, ready-to-consume range of south Indian delicacies. We want to create a 'national south Indian brand'...," VS Mani & Co Founder G D Prasad said.

The company said it plans to scale via online marketplaces and offline retail not just in India but also abroad where there is a significant diaspora to cater to.

Commenting on the investment in the company, Mittal said VS Mani & Co is well placed to grow into a leader in the specialty south Indian food segment, the one where there are hardly any national players.

Founded by GD Prasad in 2020, the is a Bangalore-based FMCG company that offers South Indian packaged foods and beverages.

“VS Mani strikes a chord with its brand story, transporting consumers to the quintessential South Indian home of GD’s childhood years. It is well placed to grow into a leader in the specialty South Indian foods segment, one where there are hardly any national players”, says Anupam Mittal, who has invested in the brand.

Yashas Alur, Co-Founder & Head of Growth says: “As of now, almost 90% of our sales come from our own channel. We have acquired customers profitably – and with healthy repeat rates, have also proven that we have a solid product”.

“Now, the plan is to scale via online marketplaces and offline retail – not just in India, but also abroad, where there is a significant diaspora to cater to”, adds Rahul Bajaj, Co-Founder & Head of Operations.