PE-VC Fund Investments
Ready-to-eat food seller Alimento Agro raises Rs.52-Cr led by IvyCap Ventures
Alimento Agro Foods , the parent entity of MOM (Meal of the Moment), has raised INR 52 crore in a Series A funding round led by IvyCap Ventures.Founded by Prateek Bhagchandka and Mugdha Bhagchandka, Alimento Agro Foods sells ready-to-eat and convenience food products. Its brands include MOM, which covers instant meals and snack products, and Gimi Gimi, a Korean-style noodle brand.The fresh capital will be used by the company to expand manufacturing capacity, strengthen distribution across India, and invest in product development. The funding will also support scaling operations and widening market reach for both brands.
For FY24, MOM Meal had reported about INR 36.52 Cr in Operating Income and about INR 1.65 Cr in PAT.
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