Packaged food startup Alimento Agro Foods Pvt Ltd has raised INR 52 crore (about $5.8 million) in a Series A funding round led by IvyCap Ventures.
The company plans to use the funding to boost its manufacturing capacity, expand its distribution across India and launch new products under its brands, MOM Meal of the Moment and Gimi Gimi.
“Both brands are seeing steady traction, and this investment will help us scale manufacturing, distribution, and innovation,” said Prateek Bhagchandka, Founder and CEO of Alimento Agro Foods.
Mugdha Bhagchandka, cofounder and COO, said the company aims to build multiple consumer food brands over the long term.
Vikram Gupta, founder and Managing Partner at IvyCap Ventures, said the investment was driven by Alimento’s strong product positioning and early success in the market.
He added that IvyCap has a strong track record of supporting consumer and technology-driven companies across different sectors.
Founded by Prateek Bhagchandka and Mugdha Bhagchandka, Alimento operates in two fast-growing food categories. Its brand MOM Meal of the Moment offers instant meals and snacks that focus on taste and convenience for urban consumers looking for quick meal options.
The brand has seen growing demand in both the ready-to-eat and ready-to-cook segments.
Its second brand, Gimi Gimi, offers Korean-style noodles made for Indian consumers. The company is tapping into the rising popularity of global flavors, especially Korean food, to grow the brand across India.
Overall, Alimento Agro Foods plans to build a range of affordable, convenient food brands that can compete with both established FMCG companies and newer direct-to-consumer brands.
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