Mumbai-based Scandalous Foods, a provider of innovative Indian sweets to restaurants and caterers, is seeking a significant funding boost to fuel its growth ambitions. The company aims to raise $12 million, following a successful pre-seed round that secured ₹3 crore in February 2024.

Key Takeaways:

  • Scandalous Foods boasts a 22% year-over-year growth and a remarkable 75% surge in the last quarter.
  • The company plans to leverage the funds for product innovation, launching “Mithai” parlors, and expanding its HoReCa base.
  • Scandalous Foods offers preservative-free sweets with a long shelf life, catering to the evolving needs of the restaurant industry.
  • Founded in 2022, the company currently operates in a B2B model but has aspirations to expand into B2B2C and B2C segments.

Scandalous Foods primed for growth with an ambitious $12 million funding goal

The Mumbai-based sweet innovation brand sets its sights on $12 million as it builds on the momentum of a successful pre-seed round and remarkable growth

Brand witnesses a 22% year-over-year growth and a 75% quarterly surge, positioning itself for a major expansion

Mumbai, 8th July, 2024: Scandalous Foods, the innovator in the Indian sweets industry catering to the restaurant and catering sectors, is excited to announce its ambitious goal of raising $12 million in the coming months. This move comes on the heels of a successful pre-seed funding round in February 2024, where the company secured ₹3 crore from various esteemed angel investors.

The pre-seed round, completed with the backing of seasoned investors, including Mr. KRS Jamwal, Mr. Mrunal Jhaveri, Mr. Arjun Vaidya of V3 Ventures, Mr. Ajay Mariwala, MD of VKL and FSIPL, and celebrity Chef Harpal Singh marked a significant milestone for Scandalous Foods. These funds have already catalyzed growth, enabling the company to expand its production capabilities and establish a larger facility.

Mr. Sanket S., Co-Founder of Scandalous Foods, expressed his optimism:Our recent pre-seed funding has laid a strong foundation for our growth. The additional ₹3 crore has allowed us to enhance our production and cater to a broader clientele. As we prepare to raise $12 million, we are more committed than ever to revolutionizing the Indian sweets landscape. Our vision is to blend tradition with innovation, creating sweets that resonate with both contemporary and traditional palates.

Scandalous Foods has demonstrated robust growth, with a 22% year-over-year increase in FY24. Notably, the company saw a remarkable 75% growth in the last quarter (January–March 2024) compared to the previous quarter (October-December 2023). This impressive performance underscores the brand’s potential and readiness for substantial expansion.

The strategic investment in a bigger production unit underscores Scandalous Foods’ dedication to quality and scalability. The company aims to leverage this enhanced capacity to strengthen its presence in key markets, including Mumbai and Nasik, and build a robust HoReCa base. As Scandalous Foods embarks on its next phase, it remains focused on delivering exceptional Indian sweets that cater to evolving consumer tastes. The upcoming funding round will enable the company to introduce innovative products, launch its Mithai parlors expand its offerings, and become a category leader in the industry.

About Scandalous Foods

Scandalous Foods founded in August 2022 and led by Sanket S, and Pravesh Amin is a pioneering venture aiming to revolutionize the sweets industry for the restaurant sector. Functioning as a comprehensive solution for the procurement of Indian sweets, the company envisions making sweets as commonplace as ice cream in the dining experience. With a commitment to quality and innovation, Scandalous Foods offers preservative-free sweets with a remarkable 6-month shelf life, available in convenient single-serve sizes. Currently a B2B company with aspirations for B2B2C and B2C expansion, Scandalous Foods operates with a focus on cloud kitchens and plans to expand to various food service segments. In the near future, the brand is set to introduce mithai bars and sachets, catering to spontaneous indulgence.

Scandalous Foods is poised to shake up the Indian sweets industry with its focus on quality, innovation, and convenience. The upcoming funding round will fuel its expansion plans and help establish the brand as a leader in the market.