The Series B investment saw participation from existing investors Rukam Capital, Roots Ventures, and DSG Consumer as well.
Aavishkaar Capital (Aavishkaar), an impact fund and part of the Aavishkaar Group, led the Rs 41 crore equity investment in Go DESi, a Bangalore-based packaged food start-up. This marks the seventh investment from the Aavishkaar India Fund VI, a $150 million fund investing across impact sectors such as financial inclusion, sustainable agriculture, climate, consumer, and healthcare in India.
The round also saw participation from existing investors, Rukam Capital, Roots Ventures, and DSG Consumer. Go DESi will utilise this fund for business expansion geographically, deepen SKU presence, and build and strengthen capacity.
Vinay Kothari, Founder, Go DESi, said, “There are immense opportunities in the packaged food industry in India, which is growing rapidly at 20–25 percent. 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.”
Founded in 2018 by the brother-sister duo Vinay Kothari and Raksha Kothari, Go DESi’s vision is to become India’s leading DESi Impulse brand. The company was recently featured in Shark Tank Season 2 as well as being a part of the recently concluded Startup Mahakumbh.
The confectionery market size in India is over $17 billion. While the Western segment is highly organized by established global MNCs, the Indian segment, which accounts for $10 billion of this market, is 90% unorganized, sold in loose, unbranded formats, and suffers from low hygiene and quality standards.
As per a company statement, Go DESi is a promising upcoming brand in a large, unorganized space helmed by seasoned founders who have demonstrated strong distribution and execution capabilities. Aavishkaar Capital had previously invested in Soulfull (millet-based food brand). The company was later acquired by Tata Consumer Products, to expand their food portfolio in India.