MasterChow Raises INR 3.5 Crore In Seed Funding The funds will be used to scale its state-of-art manufacturing unit, develop new products and hire new talent
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
MasterChow, a ready-to-cook Asian cuisine brand, has raised INR 3.5 crore in a Seed round led by WEH Ventures.The startup plans to utilize the funds to double down on its manufacturing capabilities, product development, hiring new talent and geographic expansion plans.
"We want to be the disruptor brand in the $3 billion ready-to-cook category specifically focusing on the Asian sauce and condiment market. The pandemic has created a shift in consumer preferences for better quality products and for transparency with ingredient sourcing, which has been a great propeller for us. With a strategic focus on convenience, our product range offers innovative flavors in an easy to use format. Our customers come from across the board, from young couples, millennials to larger family households spread across different geographies and with the current fundraise, we plan to enter new categories while increasing current manufacturing capabilities and go deeper with our online footprint," said Sidhanth Madan, co-founder of MasterChow.
"Indians love Chinese and other Asian cuisines, however the reason people don't venture to cook this at home regularly is because of the lack of high quality ingredients available in the market. When we tried MasterChow sauces for the first time, it became very apparent what the market was missing. We believe they'll end up leading the RTC market for this segment in the next three-five years," said Rohit Krishna, general partner of WEH Ventures.
Founded in June 2020, the D2C startup, has been able to serve over three lakh families since its inception. It has also witnessed strong traction in tier 1 and tier 2 cities with revenue growing over 10 times in the last twelve months. Currently, the brand is shipping to 17,000 pincodes (2,800 cities) in India. The products are currently available on online marketplaces like Amazon, BigBasket, Grofers, Instamart, and offline stores such as Modern Bazaar, etc, said a statement.
