Plant-based meat company, GoodDot is planning to strengthen its presence in Indian and international markets.
Recently, the Udaipur-based firm has secured an undisclosed amount in funding from the consumer-focused venture fund Sixth Sense Ventures. The funds will drive its expansion plans and will also be utilized on R&D, marketing, and wider distribution.
Abhishek Sinha, CEO, and Co-Founder of GoodDot, stated, “We are delighted to have concluded this round of funding with Sixth Sense Ventures. We are confident this strong partnership will enable GoodDot to position itself as a force to be reckoned within the space of plant-based meats not only in India but across the world.”
Nikhil Vora, Founder, and CEO of Sixth Sense Ventures, said, “We believe that going forward, consumption preferences will evolve increasingly fast towards meat alternatives on the back of health, ecological or compassion-related reasons. Validation by HoReCa is critical for a new food category, and with endorsement by leaders such as Domino’s and other institutional customers, GoodDot has emerged to be the leader in plant-based meat in India.”
Presently, GoodDot sells its products through direct-to-consumer channels, e-commerce platforms as well as more than 7,500 offline stores. Apart from India, the company has a presence in international markets like Canada, Dubai, Nepal, South Africa, and Singapore.
GoodDot is looking at venturing into markets such as the US and Europe in the coming months. It is also eyeing to roll out its retail QSR outlets under two formats ‘GoodDo’ and ‘GoodKhana’, which are currently in Mumbai, Delhi, Udaipur, and Kathmandu.