Total amount raised
$12.3 Millions
Latest funding date
5/1/2024
Location
GO DESi has successfully raised ₹41 crore in a recent Series B funding round, attracting a diverse group of 10 investors. The company specializes in manufacturing traditional and 100% natural snacks, offering a variety of products such as DESi POPz and Jaggery Coconut Laddoos.
Keep reading to explore the intricacies of GO DESi's fundraising journey and the investors backing this innovative platform.
What Is GO DESi?
GO DESi, founded in 2018 by Raksha Kothari and Vinay Kothari, is based in Bangalore, Karnataka, India. The company specializes in manufacturing traditional and 100% natural snacks, including lollipops, laddoos, and other regional treats.
With a workforce of 101-250 employees, GO DESi collaborates directly with farmers and self-help groups to empower rural businesses. Their product range includes DESi POPz, DESi Meetha, DESi Bytes, DESi Mints, DESi Combos, and DESi Gifts.
GO DESi's mission is to bring authentic, handmade snacks to a broader audience while supporting local communities and preserving traditional recipes.
How Much Funding Has GO DESi Raised?
- Seed Round
- Amount Raised: ₹10M
- Date: November 2018
- Lead Investors: Lead Angels Network
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to launch the business and develop the first product line.
- Venture Round
- Amount Raised: ₹450M
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and expand market reach.
- Venture Round
- Amount Raised: $1M
- Date: July 2022
- Lead Investors: DSG Consumer Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support growth and market penetration.
- Grant
- Amount Raised: -
- Date: September 2022
- Lead Investors: Propel Accelerator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Accelerate business development and innovation.
- Series B
- Amount Raised: ₹410M
- Date: May 2024
- Lead Investors: Aavishkaar Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Geographical expansion, increasing SKU presence, and strengthening capacity.
Total Amount Raised: $7.4M
Current Valuation: Not publicly disclosed
Key Investors
- Aavishkaar Venture Capital
- Details: Aavishkaar Venture Capital is an impact investment firm that focuses on sectors such as financial inclusion, sustainable agriculture, climate, consumer, and healthcare in India. The investment in GO DESi marks the seventh investment from their Aavishkaar India Fund VI, a $150-million vehicle.
- Investment Focus Areas: Financial inclusion, sustainable agriculture, climate, consumer, healthcare.
- Notable Investments: AgroStar, Chqbook, GoBolt.
- DSG Consumer Partners
- Details: DSG Consumer Partners is a venture capital firm that invests in early-stage consumer businesses in India and Southeast Asia. They focus on companies that cater to the evolving needs of the modern consumer.
- Investment Focus Areas: Early-stage consumer businesses, modern consumer needs.
- Notable Investments: Epigamia, Raw Pressery, Veeba.
- Rukam Capital
- Details: Rukam Capital is an investment firm that focuses on early-stage consumer brands in India. They aim to support companies that have the potential to become market leaders in their respective categories.
- Investment Focus Areas: Early-stage consumer brands, market leaders in consumer categories.
- Notable Investments: Not publicly disclosed.
- Roots Ventures
- Details: Roots Ventures is a multi-stage investment firm that provides capital to early and growth-stage companies. They focus on sectors such as consumer, healthcare, and technology.
- Investment Focus Areas: Consumer, healthcare, technology.
- Notable Investments: Not publicly disclosed.
- Lead Angels Network
- Details: Lead Angels Network is an angel investment group that provides early-stage funding to startups in India. They focus on nurturing and mentoring young companies to help them grow.
- Investment Focus Areas: Early-stage startups, technology, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for GO DESi?
GO DESi stands at the cusp of a significant opportunity, with the Indian confectionery market valued at over $17 billion. The unorganized segment, which GO DESi targets, accounts for $10 billion of this market. The company aims to capture a substantial share by expanding geographically, increasing stock-keeping units, and strengthening capacity. This growth potential is bolstered by the increasing consumer demand for regional and traditional treats, as well as the rapid expansion of online marketplaces and quick-commerce platforms.
Future fundraising opportunities appear promising, with the company already attracting significant interest from investors like Aavishkaar Capital, DSG Consumer, and Rukam Capital. As GO DESi aims to increase its monthly revenue to ₹9 crore, further investment rounds are likely to support continued scaling and market penetration. However, the company will need to navigate challenges such as competition from established global multinationals, managing supply chain complexities, and maintaining product quality and hygiene standards while scaling up operations.
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