Go DESi raises Rs 41 crore from Avishkaar Capital, others

Mumbai: Bengaluru-based packaged foods startup Go DESi on Thursday said it has secured Rs 41 crore in a funding round led by Avishkaar Group firm Avishkaar Capital.

This marks the seventh investment from the Aavishkaar India Fund VI, a USD 150-million fund investing across impact sectors such as financial inclusion, sustainable agriculture, climate, consumer and healthcare in India, Avishkar Group said.

The funding round also saw participation from existing investors Rukam Capital, Roots Ventures and DSG Consumer, it said.

Go DESi said it will utilise this fund for business expansion geographically, deepen SKU presence, and build and strengthen capacity.

"There are immense opportunities in the packaged food industry in India which is growing rapidly at 20-25 per cent. The funding partnership with Aavishkaar Capital will help Go DESi strengthen its product portfolio, accelerate marketing, rapidly scale our geographic focus and expand our distribution reach," Vinay Kothari, Founder, of Go DESi, said.

Divya Gupta, Investment Director, Aavishkaar Capital, said, "We welcome Go DESi into the Aavishkaar family and join their journey of transforming the confectionary landscape in India while impacting the rural economy." Aavishkaar Capital had previously invested in the millet-based food brand Soulfull, which was later acquired by Tata Consumer Products.