Scandalous Foods raises funds in ongoing Seed round led by New Age India Fund
Summary
The startup has received three term sheets from various investors and a family office which it is evaluating towards closing this round.Prior to this, the company had raised Rs 3 crore in its pre-seed funding round from Indian Angel Network and others back in Feb. 2024.The proceeds will be channeled towards expanding production capacity and strengthening its SME HoReCa (Hotels, Restaurants, and Catering) distribution network, fueling the companys next phase of growth, Scandalous Foods said in a press release.Co-founded in August 2022 by Sanket S, Scandalous Foods aims to empower the sweets industry for the restaurant sector. With a commitment to quality and innovation, it offers preservative-free sweets with a 6-month shelf life, available in convenient single-serve sizes. "At Scandalous Foods, were not just selling Indian sweetswere working towards becoming the biggest mithaiwala in the unplanned post meal impulse purchase space. This funding is a massive leap forward in our journey to make our sweets a staple in restaurants and catering menus across India. The brand has a reach of nearly one million unique consumers through its 27 B2B clients and over 1,500 distribution points.The Nashik-based startup plans to introduce 2-3 new products and expand into new sub-channels within existing markets.