INDIA – Bengaluru-based Adukale, a prominent player in the ready-to-eat and ready-to-cook snacks market, has secured significant investment from early-stage investor NuVentures as part of its ongoing fundraising efforts.
The announcement was made on August 12, 2024, marking a pivotal moment for the firm as it aims to enhance its operations and broaden its distribution network.
This latest funding round follows a successful raise earlier this year, where Adukale secured Rs 11 crore (US$1.3M) led by Force Ventures, with participation from Aanya Ventures and Accel partner Subrata Mitra.
Bharat Kaushik, the director and CEO of Adukale, expressed enthusiasm about the new investment, stating, “Adukale is poised for significant growth, and the funding from NuVentures bolsters this journey to expand our operations and extend our distribution network.”
He emphasized the company’s commitment to honoring Karnataka’s rich culinary heritage, positioning Adukale as a traditional snack market leader.
Adukale’s ambitious plans include scaling its product offerings and enhancing its market presence. Recently, the company inaugurated a state-of-the-art production facility covering 20,000 square feet on the outskirts of Bengaluru.
This facility is expected to increase production capacity more than fourfold, enabling Adukale to meet the growing demand for its products.
Founded 15 years ago, Adukale has established a strong foothold in the market, operating 23 stores across Bengaluru and Mysuru.
The brand is also available in over 1,000 supermarkets and retail outlets, in addition to being sold through major e-commerce platforms.
Kaushik noted, “We are thrilled to seize this opportunity to enhance our brand presence and deepen our connection with our audience,” highlighting the company’s focus on customer engagement and market expansion.
The investment from NuVentures is seen as a strategic move to capitalize on the rising consumer interest in traditional snacks, particularly those that reflect regional flavors and culinary practices.
As consumer preferences shift towards healthier and more authentic food options, Adukale is well-positioned to leverage its heritage and expertise in creating high-quality snacks that resonate with local and national audiences.
NuVentures, known for its focus on early-stage investments in promising startups, recognizes the potential in Adukale’s business model and its commitment to quality.
The partnership is expected to provide Adukale with not only financial support but also strategic guidance to navigate the challenges of scaling operations in a competitive market.
As Adukale embarks on this new phase of growth, the company aims to enhance its product line while maintaining the authenticity and quality that has garnered a loyal customer base.
The backing from NuVentures is a testament to the brand’s vision and the increasing demand for traditional snacks in India.
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